02. July 2019 | News, Views & Markets
Rieter awarded large contract from Egypt
Rieter Group has signed contracts with the Cotton & Textile Industries Holding Company, Cairo (Egypt), at the ITMA 2019. These seven projects entail a total of 180 million Swiss francs. The contract comprises delivery of compact- and ring-spinning systems over the next two years. This order is part of a comprehensive modernization program of the Egyptian textile industry. The order intakes are anticipated to be realized in 2019 with sales posted in the 2020/2021 financial years.