#Spinning

2021-08-17

Statement Picanol Group following press release Rieter Holding

In reference to the press release issued by Rieter Holding AG (SWX: RIEN) on Monday, August 16, 2021, Picanol Group (Picanol nv) would like to respond as follows.

As a weaving machine manufacturer, Picanol has a long-standing commercial relationship with the controlling shareholder of Saurer Intelligent Technology Co. Ltd. In that capacity, it investigated how it could work with the controlling shareholder to save the European operations of Saurer Intelligent Technology Co. Ltd. that had encountered financial difficulties. However, the discussions have not led Picanol to make a formal offer for the purchase of assets or businesses.

In this context, Picanol Group provided a 20 million EUR credit loan to Saurer Technologies GmbH & Co, whilst not obtaining any preferential rights for the purchase of assets or businesses.

In addition, upon learning of the financial problems at Saurer, Luc Tack had also informed the CEO of Rieter that this might also represent an opportunity to further strengthen Rieter by acquiring certain parts.

Luc Tack and Stefaan Haspeslagh respected at all times the rules of governance applicable in the framework of any potential conflict of interest when deliberating or taking decisions on this matter. They neither participated at Rieter in the deliberations nor in the decisions concerning the acquisition of parts of Saurer in the framework of corporate governance nor did they take access to or use information shared through Rieter on the Saurer matter.

Luc Tack and Stefaan Haspeslagh are convinced that Rieter has been considerably strengthened with the acquisition of parts of Saurer, as Rieter can now offer all types of machines for processing fiber into yarn. In this context, Picanol Group has also offered to Rieter financing through a capital increase for financing part of this acquisition, if the Board of Directors of Rieter should deem it necessary.

Picanol Group, Luc Tack, and Stefaan Haspeslagh deeply regret the communication and steps taken by Rieter and retain full confidence in Rieter's strategy. Luc Tack and Stefaan Haspeslagh will cooperate with any investigation in order to establish the unfounded nature of any of the allegations made by Rieter.

In March 2021, Picanol Group acquired a 10% minority stake in Rieter Holding AG. Rieter is the world’s leading supplier of systems for short-staple fiber spinning.

Picanol weaving machine presentation at ITMA 2019 (c) 2021 TexData International

Luc Tack, CEO of Picanol Group, here presenting weaving machine #300.000. (c) 2021 Picanol

Picanol to present its leading weaving technology at ITM 2026

Picanol is pleased to announce it will be participating in ITM 2026 in Istanbul. This is a key event for industry professionals to engage with the Turkish textile industry as well as the extensive international audience attending the fair. During the event, Picanol will present its latest innovations to the visitors in Hall 8, booth 802.

Picanol to exhibit latest weaving technology at ITMA ASIA + CITME, Singapore 2025

At ITMA ASIA + CITME 2025, Picanol (Hall 2 – Booth C204) will unveil the next-generation OmniPlus-i Connect airjet weaving machine, setting a new benchmark in airjet weaving technology. This latest evolution of Picanol’s trusted platform demonstrates how the company continues to deliver innovative, performance-driven solutions that meet the evolving challenges of modern weaving mills.

Picanol’s will unveil the Supermax, its new rapier weaving machine, at ITMA Asia + CITME 2024

ITMA ASIA + CITME 2024 represents an excellent opportunity for Picanol to once again demonstrate its technological leadership in both airjet and rapier weaving machines. Visitors to the event will experience Picanol’s world premiere of its brand-new Supermax rapier weaving machine. In total, Picanol will have four different high-tech weaving machines as well as its PicConnect digital platform on display.

Picanol opens its new training and service center in Tashkent (Uzbekistan)

Last week, Picanol inaugurated a new training and service center in Tashkent (Uzbekistan), in collaboration with its Uzbek agent, Baror Group. This state-of-the-art facility is strategically located to serve Picanol’s Central Asian customers more effectively. The opening ceremony was organized during CAITME 2024, which is the largest textile machinery exhibition in Central Asia, and it provided the ideal platform to showcase the new center to many industry professionals and customers from Uzbekistan, India, Pakistan, and Tajikistan, among other countries.

Rieter sees Barmag integration on track as orders and sales rise

The first half of 2026 was shaped by the successful completion of the largest acquisition in Rieter’s history. The Man-Made Fiber Division enables entry into the growth segment of man-made fibers and sustainably strengthens Rieter’s market position in the Asia region. The expanded Group is now the world’s leading system supplier for the processing of natural and man-made fibers. In the first half of the year, initial cost savings in material costs and operating expenses have already been realized. The targeted synergies are expected to amount to at least CHF 20 million by the end of the 2028 financial year. Due to the completion of the acquisition on February 2, 2026, the first half of the year for the Man-Made Fiber Division only amounts to five months.

Barmag Fuzhou Customer Day concludes successfully, boosting high-quality chemical fiber growth in Fujian & Guangdong

Barmag hosted its Customer Day themed “A New Era. Powered by Innovation.” in Fuzhou on June 28, welcoming nearly one hundred invited customers from Fujian and Guangdong provinces. Georg Stausberg, CEO of Barmag Group, attended along-side the sales and R&D expert China team to jointly present integrated solutions covering the entire man-made fiber value chain.

STEELTOP®: A new benchmark in flat tops for spinning preparation

Modern carding generations achieve higher production performance, placing significantly greater stress on flat tops. Higher cylinder speeds and increased fiber density, combined with tighter carding gaps, create more demanding operating conditions. At the same time, poorer raw material quality and the increased use of recycled materials further intensify these challenges. With STEELTOP®, Trützschler introduces a new full steel flat top series developed for these demanding modern carding processes.

Ibrahim Fibres and Trützschler: A strong partnership enters its next phase with the TC 30Si

For more than two decades, Ibrahim Fibres and Trützschler have grown side by side, driven by a shared ambition to continuously improve spinning performance, strengthen technology leadership and set new benchmarks in the textile industry. Today, Ibrahim Fibres is a leading yarn and polyester staple fiber manufacturer in Pakistan. The company operates the largest number of Trützschler cards in the country, with more than 200 machines running across its mills in Faisalabad, and plays an important role in one of Asia’s largest textile industries.

C&S strengthens its governance to support its evolution

C&S announces the appointment of Marco Lucietti to its Board of Directors. With extensive international experience across the textile and denim industries, Lucietti will work alongside CEO Federico Corneli, contributing to the company’s managerial development, organizational structure and long-term strategic direction.