New Orders for Rieter from Egypt
The Cotton & Textiles Holding Company and Rieter signed additional contracts related to the modernization program for the Egyptian textile industry.
The total volume of the contracts sums up to around 210 million Swiss Francs, including the contracts which had been signed at ITMA 2019 in Barcelona and which represent a volume of around 180 million Swiss Francs. Rieter expects the full amount of orders to be booked as order intake in the first half year of 2020. So far, 165 million Swiss Francs have been booked.
Order volume is around 30 million Swiss francs
Chief Executive Officer of Rieter, Dr. Norbert Klapper was very pleased at the signing ceremony: “The next step of the program we agreed upon today underlines the strong partnership between the Cotton & Textiles Holding