www.fibre2fashion.com, Textiles, Newsroom.
Textile machinery company Rieter has signed a contract with the Cotton & Textile Industries company from Cairo Egypt, at the ITMA 2019, which is being held from June 20-26, 2019, in Barcelona, Spain. These seven projects entail a total of 180 million Swiss francs. The contract comprises delivery of compact and ring spinning systems over the next two years.
The order is part of a comprehensive modernisation programme of the Egyptian textile industry. The order intakes are anticipated to be realised in 2019 with sales posted in the 2020/2021 financial years.
The contracts were signed by Ahmed Moustafa Mohamed, chairman of Cotton & Textile Industries, and Norbert Klapper, CEO of Rieter, the company said in a press release.
“We would like to thank our Egyptian business partners for the confidence they are placing in Rieter by awarding us this contract. Rieter has been the partner of choice of the Egyptian spinning industry for decades. We are delighted to be given the opportunity of making such an important contribution to the modernization of the Egyptian textile industry,” Klapper said. (GK)
