TITLE

Steep decline in orders for Rieter

PUB. DATE
May 2009
SOURCE
Indian Textile Journal;May2009, Vol. 119 Issue 8, p105
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports the financial performance of Rieter Group for the 2008 financial year. The company recorded significantly lower orders received, sales, operating result and net result in the year under review. Sales for the year, declined by 20 percent to 3,142.5 million Swiss francs (CHF). The company also posted a business loss of 396.7 million CHF, mainly attributable to special charges due to restructuring provisions and goodwill impairment as well as the financial result. Despite the impacts of the global economic downturn, the company is said to have succeeded in maintaining its market position in both its textile machinery and automotive component supply divisions.
ACCESSION #
42514388

 

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