Rieter Integrates Automotive Supplier Saifa-Keller
Switzerland-based Rieter Holding AG is integrating Spain-based Saifa-Keller S.A. into its
Automotive Systems Division by increasing its share holding from a minority interest to 50 percent.
The remaining 50 percent of shares will continue to be owned by members of the co-founding
families. The two companies have been joint venture partners since 1975.
Saifa-Keller manufactures noise control and thermal insulation components for the automotive industry at its three plants in Spain. Volkswagen, PSA (Peugeot/Citro) and Renault-Nissan are major customers. In 2002, Saifa-Keller generated sales revenues of 45 million euros.
Saifa-Keller, now known as Rieter Saifa, has been consolidated as a Rieter group company.