Rieter Completes Real Estate Sale in Ingolstadt and Also Submits Building Application for Rieter Campus in Winterthur

Exterior of Rieter Campus

Rieter announced that the real estate sale in Ingolstadt, Germany to Gerchgroup AG of Düsseldorf, Germany was completed on September 13th. Rieter expects an extraordinary profit contribution after tax of around 60 million euro from this transaction.

Employees in Ingolstadt will move into a new building in the second half of 2021. Rieter will create a modern working environment for innovative research and development work as well as for respective support functions.

On September 13th, the Board of Directors of Rieter Holding Ltd. has made decisions required for the building application regarding the Rieter Campus project to be submitted in good time. The Rieter Campus in Winterthur will consolidate customer center, product and technology development and administration. Rieter expects to implement the project with a project volume of around CHF 80 million. Archaeological excavations and the demolition of the building “Werkhalle 40” are currently underway.

The Rieter Campus will make an important contribution to the implementation of innovation strategy and thus to further development of the company. Approval of the building application is expected in the spring of 2020.

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