Rieter has successfully completed the acquisition of Barmag to become the world’s leading technology provider for the production of both natural and synthetic fibres.

Barmag is now being consolidated and integrated into the Rieter Group as its new Man-Made Fiber Division. Barmag management will remain with the company and Georg Stausberg will continue to lead the division, reporting to Thomas Oetterli, CEO of Rieter. At the same time, he will join the group executive committee.

The transaction is being financed by a capital increase completed in October last year as well as by long-term bank loans. In addition to substantial cash reserves in its operating units, Rieter also has a significantly increased revolving credit facility at its disposal.

“Barmag’s know-how is a perfect fit for Rieter and will accelerate profitable growth as well as strengthening our market leadership in the important region of Asia,” said Thomas Oetterli, CEO of Rieter. “The acquired filament know-how will help to expand our areas of expertise as a system provider and further advance automation and digitization solutions. This is the start of a successful future together and an important milestone in the implementation of our corporate strategy.”

www.rieter.com