Baar, Switzerland - Swiss belting, adhesives and flooring group Forbo announced 18 Jan that the Swiss Financial Market Supervisory Authority (FINMA) is no longer investigating a possible infringement of a disclosure obligation in connection with Forbo's purchase of a stake in automotive acoustics and textile equipment supplier Rieter.
In July 2008, Forbo said that it owned just over 10 percent of Rieter's shares, having purchased a 5.01 percent stake in May 2008 to add to the 5 percent it already owned.
The Swiss financial authority said in August 2008 that it was investigating a possible infringement of a disclosure obligation in connection with the purchase, but has now dropped this investigation.
Forbo produces products for the flooring, adhesives and belting industries.
Rieter supplies diverse parts to cut noise, vibration and harshness in vehicle interiors, many based on polyurethane, as well as textile-making equipment.