Rieter and the Austrian technology group Andritz have signed sales contract for the French company Rieter Perfojet S.A.S. The sale of the Rieter group's wholly-owned subsidiary is part of a process of focussing on the core activities in Rieter's textiles division. Owing to the economic crisis, suppliers of system solutions for the textiles and car industry have stepped up their efforts in the textiles division to concentrate on the core competencies in the field of spinning machines for short staple fibres as well as the corresponding technological components and services. The parties have agreed not to disclose the purchase price. Approval from the cartel office is required to conclude the deal. This is expected to be given in early 2010.
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