Winterthur, Switzerland - Forbo Holding AG has notified Rieter Holding Ltd on 9 July that at present it holds, directly and indirectly, 445 530 registered shares in Reiter through its subsidiary Forbo international. This is the equivalent to 10.1 percent of the total voting rights. The notification by Forbo confirms the limit of 10 percent of the voting rights was exceeded 3 July.
This announcement follows the news that in early May Forbo acquired 223 000 of Rieter's registered shares, equivalent to 5.01 percent of total voting rights, as part of its "long-term perspective."
Rieter ceo Harmut Reuter had previously said, also in early May, that he did not expect the company to be a takeover target following a profits warning.
Forbo said it has informed Rieter's board of directors that there is in principle, no intention, to advance its holding from the level that has now been notified.
Forbo produces products for the fooring, adhesives and belting industries.
Rieter supplies diverse parts to cut noise, vibration and harshness in vehicle interiors, many based on polyurethane.