Rieter Wins Major Follow-up Order from DIW

On July 16, 2024, Rieter and Shanghai Digital Intelligence World Industrial Technology Group Co., Ltd. (DIW) have signed a purchase contract for more than 700 of the company's winding machines Autoconer X6. This represents the largest order in the history of Rieter China. The agreement also strengthens the strategic partnership between the two companies that aims to develop state-of-the-art spinning operations and achieve unprecedented levels of quality, productivity and efficiency.

DIW has placed an order for more than 700 of Rieter's winding machines Autoconer X6. The winding machine serves as the final quality assurance in the ring spinning and compact-spinning process and is key to the performance of subsequent process steps. With its outstanding productivity, intelligent process automation, excellent splicing and winding quality, the Autoconer X6 is widely recognized in the market. The order will help DIW strengthen the vertical integration of its operations and accelerate its growth strategy in the cotton spinning industry, further underpinning its leading position in global markets. This order follows the initial batch placed in March 2024, when Rieter and DIW signed their first strategic partnership to develop intelligent yarn manufacturing technology that utilizes digitization and automation to minimize conversion costs and maximize value for customers.

Liu Yifang, Vice Chairman, Shanghai Digital Intelligence World Industrial Technology Group Co., Ltd., says: “This partnership is a win-win for both companies. With our vertically integrated manufacturing operations, we are building some of the world's most advanced spinning operations which will ideally position us for growth in this industry. Together we will further enhance the overall operational efficiency of DIW, creating a major player in cotton spinning.”

Michael Hubensteiner, Country Managing Director Rieter China, says: “With its high-performance winding machines, Rieter will help DIW meet its steadily growing demand and requirements for higher operational efficiency. The renewed cooperation will further amplify our shared strengths, position us to capture growth opportunities together and enable long-term and stable cooperation between Rieter and DIW.”

About Rieter
Rieter is the world's leading supplier of systems for manufacturing yarn from staple fibers in spinning mills. Based in Winterthur (Switzerland), the company develops and manufactures machinery, systems and components used to convert natural and man-made fibers and their blends into yarns in the most cost-efficient manner. Cutting-edge spinning technology from Rieter contributes to sustainability in the textile value chain by minimizing the use of resources. Rieter has been in business for more than 225 years, has 18 production locations in ten countries and employs a global workforce of around 5 100, about 16% of whom are based in Switzerland. Rieter is listed on the SIX Swiss Exchange under ticker symbol RIEN. www.rieter.com.

About Shanghai Digital Intelligence World Industrial Technology Group Co., Ltd.
Headquartered in Shanghai, Shanghai Digital Intelligence World Industrial Technology Group Co., Ltd. (DIW) focuses on intelligent manufacturing and industrial operation services in the textile industry. The company is equipping its operations with intelligent manufacturing technology designed to achieve high-quality textile products. DIW operates four major intelligent industrial parks.

Disclaimer
All statements in this report which do not refer to historical facts are forecasts which offer no guarantee whatsoever with respect to future performance; they embody risks and uncertainties which include – but are not confined to – future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors which are outside the company's control.