Picanol buys minority stake in Rieter Holding

摘要

As it looks to diversify its operations, Picanol Group has spent €45.4 million to acquire a minority stake in supplier of systems for spinning short-staple fibres, Rieter Holding AG.Rieter, of Winterthur, Switzerland, develops and manufactures machinery, systems and components used to convert natural and man-made fibres into yarns. Following the transaction, Picanol Group, of leper, Belgium, now holds 10% of the Swiss company's share capital.