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Technology/Machinery

Spinning mills play catch-up

Company warns of risks from bottlenecks in material deliveries and freight capacities.

15th July 2021

Innovation in Textiles
 |  Winterthur, Switzerland

Clothing/​Footwear

Spinning technology leader Rieter, headquartered in Winterthur, Switzerland, reports that its order intake climbed by 289% in the first six months of this year, compared to the corresponding period of 2020.

This equates to orders worth CHF 975.3 million compared to CHF 250.7 million in the first six months of 2020.

The biggest number of orders have come from mills in Turkey.

The company is seeing demand for complete systems in the areas of ring and compact spinning, with its Components and After Sales businesses boosted by the commercialisation of new compacting devices and the ROBOspin piecing robot in 2019.

As of June 30, 2021, the company had an order backlog worth around CHF 1,135 million.

In the Asian countries, Rieter recorded sales of CHF 137 million for the first half of the financial year 2021, up +57%. In China, sales rose by 85% to CHF 68.5 million and the recovery of the market in India resulted in a significant increase of 188% to CHF 51 million. In Turkey, sales improved slightly to CHF 59.8 million (+17%). Sales increased by 94% to CHF 59.8 million in the region North and South America, driven by a considerable increase in demand in Latin America.

For the full year, Rieter expects sales to be above CHF 900 million.

The realisation of sales from the order backlog continues to carry risks from bottlenecks in material deliveries and freight capacities, as well as the ongoing pandemic in key markets, the company has warned.

www.rieter.com

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