Two members of the Board of Directors Luc Tack und Stefaan Haspeslagh announced on August 30, 2021, that they are resigning from the Board of Directors with immediate effect. Rieter will inform the law enforcement authorities that there is no interest in continuing the criminal proceedings any further.
The Board of Directors welcomes the fact that a joint solution was found that is in the best interests of Rieter and Picanol, both of which are among the world’s leading textile machinery manufacturers. According to Luc Tack, the Picanol Group (Belgium) will remain a shareholder of Rieter.
Rieter is the world’s leading supplier of systems for short-staple fiber spinning. 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. Rieter is the only supplier worldwide to cover spinning preparation processes as well as all four end spinning processes currently established on the market.