Rieter announced that Rieter’s Board of Directors is assuming greater responsibility at the operating level in a very difficult business environment and thus shortens the decision-making process. As a consequence of the financial and economic crisis the Rieter Group is having to cope with a slump of unprecedented proportions. As already announced in the spring of 2009, Rieter will report a significant operating loss in the current financial year.
he extensive restructuring measures initiated in 2008 call for further vigorous efforts. Rieter’s Board of Directors is confident of achieving a turnaround in 2010 and reporting positive operating results in 2011.