#Spinning

2021-03-18

Change in the Board of Directors of Rieter Holding AG

Michael Pieper, a member of the Board of Directors of Rieter Holding AG since 2009, has informed Rieter that Artemis Beteiligungen I AG has sold its 11.5% block of shares to the Picanol Group (Picanol NV), Belgium, and that he thus will not stand for re-election at the Annual General Meeting on April 15, 2021.

Michael Pieper is not standing for re-election

Stefaan Haspeslagh will be proposed for election to the Board of Directors at the Annual General Meeting

The change is related to the transfer of the shareholding of Artemis Beteiligungen I AG to Picanol Group

Michael Pieper has supported and helped to significantly shape the development of Rieter for more than ten years. He joined Rieter as a major shareholder in 2008, and since then has been strongly involved in the strategic realignment of the group. “On behalf of the Rieter Group, I extend our sincere gratitude to Michael Pieper for his extremely successful and valuable work on the Board of Directors and, above all, for his commitment as a long-term major shareholder,” said Bernhard Jucker, Chairman of the Board of Directors of Rieter Holding AG.

The Board of Directors of Rieter Holding AG today announced its intention to propose Stefaan Haspeslagh for election to the Board of Directors at the Annual General Meeting on April 15, 2021. ?Stefaan Haspeslagh (born 1958) holds a Master’s degree in Applied Economics from the University of Antwerp, Belgium.

He has been Chairman of the Board of Directors and Chief Financial Officer of the Picanol Group (Picanol NV), Belgium, since 2010. In addition, Stefaan Haspeslagh has also been Chairman of the Board of Directors, Chief Operating Officer and Chief Financial Officer of the Tessenderlo Group NV, Belgium, since 2014.

As a director of Cellpack NV, Belgium, he has been in office since 2001. “Rieter welcomes the new major shareholder, Picanol NV. Luc Tack, majority shareholder and CEO of Picanol, has been a member of the Board of Directors of Rieter for four years. Stefaan Haspeslagh is characterized by broad, international management experience in the textile sector and is very well connected in the industry”, stated Bernhard Jucker, Chairman of the Board of Directors. All other current members of the Board of Directors will stand for re-election at the Annual General Meeting.

Rieter responds to higher raw material prices

Global political and economic developments have been leading to rising raw material and energy costs for some time. The textile machinery industry is also affected by this trend. Rieter machines and components consist to a large extent of steel, copper, aluminum and electronics. These materials in particular have seen higher demand and higher prices in recent months.

Rieter adjusts group structure in preparation for Barmag integration

The planned acquisition of the “Barmag” Division of OC Oerlikon will create the leading system provider worldwide for natural and man-made fibers. Rieter is confident it will receive all regulatory approvals to complete the acquisition in the fourth quarter of 2025. The Rieter Group is therefore adjusting its Group structure as of January 1, 2026, to take this acquisition into account and to be able to provide an even more agile response to market challenges.

Rieter reports stable order backlog and strategic progress – outlook for 2025 adjusted

In its Investor Update 2025, Rieter announced an order intake of CHF 203.9 million in the third quarter and CHF 559.3 million after nine months, reflecting a continued cautious investment climate in the textile machinery sector. Sales totaled CHF 121.5 million in the third quarter and CHF 457.7 million for the first nine months of the year, while the order backlog stood at around CHF 590 million as of September 30, 2025.

Measure and control the fiber – optimize yarn quality

Producing consistent yarn quality is an everyday challenge – and a very difficult one. Detailed knowledge and understanding of the fiber raw material is absolutely critical to achieving the best possible quality in the yarn. To help spinners, Uster experts have put together guidelines for avoiding yarn irregularity claims, in a special edition of the Uster News Bulletin.

The hub of smart and sustainable transformation in yarn technologies: ITM 2026

With global fiber production projected to reach 169 million tons by 2030, yarn manufacturing is becoming one of the most strategic fields within the textile machinery industry. Located in Halls 6, 7, and 10, the Yarn Hall at ITM 2026 is set to bring together industry professionals with innovative solutions developed around automation, energy efficiency, digitalization, and circular production.

Fabolose: Fabricating vegan and circular leather alternatives from bio-tech-derived cellulose

Fabulose is an EU funded project coordinated by the German Institutes of Textile and Fiber Research (DITF). Its consortium consists of leading research institutes, biotech innovators, and industry stakeholders who aim to create high-performance, biobased and recyclable leather-like fabrics, using efficient biotech production routes for bacterial cellulose, cyanophycin and bacterial pigments

Connecting the ASEAN textile sector: sustainability, trends, and technology take centre stage at this week’s VIATT 2026

Opening this week Thursday, the Vietnam International Trade Fair for Apparel, Textiles, and Textile Technologies (VIATT) is set to welcome visitors from ASEAN’s dynamic textile market and beyond. From 26 to 28 February, VIATT 2026 – the fair’s third editions – will reinforce its strategic proposition with an integrated showcase of the three core sectors of the entire textile value chain. Beyond new sourcing opportunities in Apparel Fabrics & Fashion, Home & Contract Textiles, and Technical Textiles & Technologies, the fair will present an expanded fringe programme.

Coats Digital appoints Himanshu Mehrotra as Managing Director to lead next phase of cloud and AI-driven innovation

Coats Digital is delighted to announce the appointment of Himanshu Mehrotra as Managing Director to lead the company’s strategic direction, innovation agenda, and global growth as it accelerates the development of its cloud-native, AI-powered software solutions for the global apparel and footwear supply chain.

Over 1,500 exhibitors: Techtextil 2026 grows in key future sectors

Techtextil 2026 continues to grow: more than 1,500 exhibitors from 49 countries present their products and innovations in Frankfurt am Main from 21 to 24 April 2026. Over 120 of them are first-time exhibitors. Texprocess is taking place at the same time, remaining stable with around 200 exhibitors despite challenging market conditions. Together, the two events bring more than 1,700 exhibitors to the Frankfurt exhibition grounds.