Winterthur, Austria -is to sell a French subsidiary, Rieter Perfojet SAS to international technology group Andritz, based in Graz, Austria, to enable it to focus on core activities in its Textile Division.
The French unit, in Montbonnot, France, manufactures machinery and systems for producing non-wovens. It has 50 employees and generates sales of some CHF 40 million ($38.5 million). Rieter said Perfojet's products and technologies, marketed under the JetLace and Spunjet brand names, are well know and are in use worldwide for the hydro-entanglement of non-woven fabrics.
Rieter, which also has a large division making acoustic components for the automotive sector, said in its 14 Dec announcement that, "s a consequence of the current economic crisis Rieter aims to concentrate its resources in the Textile Division on its core competencies in the field of spinning machinery for short staple fibres, together with technology components and service offerings.
The parties did not disclose the purchase price.