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Rieter Completes Suessen Acquisition

Rieter Holding AG, Switzerland, has completed its acquisition of Spindelfabrik Suessen GmbH, the Germany-based spinning machinery manufacturer known for its EliTe® and EliTwist® technologies.

Rieter acquired a 19-percent share of Suessen in early 2001, with an option to acquire the remaining 81 percent, which it now has exercised.

Suessen will continue to operate as an independent brand under Rieter's Technology Components and Conversions Division. Further development and marketing of existing technologies and original equipment parts will continue, and new Suessen products also will be developed. Erich Casanova and Peter Stahlecker will continue to head the Suessen organization. Wilhelm Stahlecker GmbH, Suessen's Germany-based research partner, will report to Casanova.

March 1, 2005




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