Rieter

Not to be confused with Reiter.
Rieter Group
Company typePublic company AG
ISINCH0003671440
IndustryTextiles Machinery
Founded1795; 229 years ago (1795) in Winterthur, Old Swiss Confederacy
FounderJohann Jacob Rieter
Headquarters
Winterthur
,
Switzerland
Key people
Thomas Oetterli (Chairman and CEO)
ProductsTextile Machinery
RevenueCHF 1,418.6 million[1] (2023)
Number of employees
5,100[1] (2023)
Websitewww.rieter.com

Rieter is a producer of textile machinery based in Winterthur, Switzerland.[2]

History

Founded in 1795 by Johann Jacob Rieter (1762–1826), the company initially produced textile products. In 1806, as Napoleon imposed the Continental Blockade to prevent trade between Continental Europe and the United Kingdom, it became impossible for Rieter to get spare parts for its British textile machinery. As a consequence, the company started to produce spare parts themselves, and in 1810 the first self-designed textile machine left its workshop.[citation needed]

In 1982, Rieter acquired the British textile machinery company Ernest Scragg & Sons Ltd.[3] The group took over Automatik (founded in 1947) in 1992.[4]

In 2011, the automotive products division, formerly Rieter Automotive, separated from Rieter and became a new corporation; Autoneum. The two Board Members of Rieter, Peter Spuhler and Michael Pieper, agreed to keep their shares in Autoneum for a certain agreed time period and to grant the new company a subordinated loan of 12.5 million CHF each.[5]

On 30 June 2017, Rieter acquired SSM Textile Machinery Division (SSM) from Schweiter Technologies AG, Horgen (Switzerland) which now functions under the Rieter Component division.[6] SSM deals in yarn winding equipment. SSM was formed by the merger of Schärer, Schweiter and Mettler companies in 1989. SSM took over Giudici S.p.A., Galbiate, Italy in February 2012 which is involved in false-twist texturing field machinery (fine count Nylon yarns). SSM also has a subsidiary in Zhongshan, China under the name of SSM (Zhongshan) Ltd, which helps in sales/support/service operations and also handles, manufacturing & assembling of machines for asian markets [7]

In 2021, Rieter acquired three businesses from Saurer. On August 13, 2021, Rieter Holding Ltd., Winterthur (Switzerland), and Saurer Intelligent Technology Co. Ltd., Shanghai (China) listed and signed an agreement by which Rieter would acquire three businesses from Saurer Netherlands Machinery Company B.V., Amsterdam (Netherlands), the parent company of Saurer Spinning Solutions GmbH & Co. KG, Uebach-Palenberg (Germany) and Saurer Technologies GmbH & Co. KG, Krefeld (Germany). With this acquisition, Rieter completed the offering of ring- and compact spinning systems by acquiring the Schlafhorst automatic winder business. Additionally, Rieter invested in two component businesses: Accotex (elastomer components for spinning machines) and Temco (bearing solutions for filament machines).[8]

References

  1. ^ a b "Successful Financial Year 2023" (PDF). Rieter Group. Retrieved 2024-03-13.
  2. ^ Plunkett, Jack W. (October 2007). Plunkett's Advertising & Branding Industry Almanac 2007. ISBN 9781593920944.
  3. ^ History & Milestones. Rieter. Retrieved on 2013-09-07.
  4. ^ The Indian Textile Journal - Volume 102 Sorabji M. Rutnagur " As on January 1, 1992 the Rieter-group takes over Automatik Apparate- ... Automatik was founded in 1947 "
  5. ^ "Rieter Automotive to become Autoneum". www.textilemedia.com. Retrieved 2020-03-16.
  6. ^ "About us | SSM - Schärer Schweiter Mettler AG".
  7. ^ "SSM Zhongshan Relocated to New Industrial Park | Textile Excellence - Textile & Apparel Newspaper / Magazine". 20 May 2016.
  8. ^ Rieter (2021-08-16). "Rieter Acquires Three Businesses from Saurer". www.rieter.com. Retrieved 2021-08-16.