Exterior of Rieter Campus. © Rieter

Rieter, a leading supplier of systems for short-staple fibre spinning, has completed the real estate sale in Ingolstadt, Germany, to Gerchgroup, of Düsseldorf. As reported in December last year, Rieter expects an extraordinary profit contribution after tax of around EUR 60 million from this transaction.

The employees in Ingolstadt will move into a new building in the second half of 2021. Rieter will thus create a modern working environment for innovative research and development work and the respective support functions.

On 13 September, the Board of Directors of Rieter Holding has also made the decisions required for the building application regarding the Rieter Campus project to be submitted in good time.

The Rieter Campus in Winterthur will consolidate customer centre, product and technology development and administration. The company expects to implement the project with a project volume of around CHF 80 million. Archaeological excavations and the demolition of the building Werkhalle 40 are currently underway.

The Rieter Campus will make an important contribution to the implementation of the innovation strategy and thus to the successful further development of the company. Approval of the building application is expected in spring of 2020.

www.rieter.com