Maschinenfabrik Rieter AG is selling the land that is no longer required for operations at Klosterstrasse in Winterthur (Switzerland) to the company Allreal, Glattpark (Switzerland).
Rieter has been in business for more than 225 years, has 18 production locations in ten countries and employs a global workforce of around 5 630, about 16.4% of whom are based in Switzerland.
The company will take over the land covering a total area of around 75 000 m2. A sales price of CHF 96 million was agreed. The corresponding sale will be notarized in the coming days. With the sale, Rieter is implementing its announced strategy of disposing of space no longer required for operations. The new owner will take over all existing tenancies. The transfer of ownership is expected to take place in the fall of 2023 after fulfillment of the legally and contractually stipulated execution conditions.
“We are convinced that Allreal is the ideal owner to further develop the site together with the city of Winterthur,” says Thomas Oetterli, CEO of the Rieter Group.
Its is expected transaction to be closed in fall of 2023. Rieter is the world’s leading supplier of systems for manufacturing yarn from staple fibers in spinning mills. Based in Winterthur (Switzerland), the company develops and manufactures machinery, systems and components used to convert natural and man-made fibers and their blends into yarns in the most cost-efficient manner. Cutting-edge spinning technology from Rieter contributes to sustainability in the textile value chain by minimizing the use of resources.