Rieter Selling No Longer Required Land In Winterthur
Switzerland headquartered and spinning machinery manufacturer Rieter AG, is selling the land, that is no longer required for operations at its Klosterstrasse plant in Winterthur, to Allreal also from Switzerland.
Allreal will take over the land covering a total area of around 75,000 square metres at an agreed price of CHF 96 million, with the transaction expected to close in fall of 2023.
“With the sale, Rieter is implementing its announced strategy of disposing of space no longer required for operations,” the Swiss company said in a press release.
“We are convinced that Allreal is the ideal owner to further develop the site together with the city of Winterthur,” Thomas Oetterli, CEO of the Rieter Group said.
Rieter has been in business for more than 225 years, has 18 production locations in ten countries and employs a global workforce of around 5,630 employees, about 16.4 percent of whom are based in Switzerland.
