Rieter has sold its real estate in Ingolstadt, Germany to Gerchgroup AG of Düsseldorf, Germany.
As a result of the sale, the Rieter Group anticipates an extraordinary profit contribution after taxes of around 60 million euro in 2019. The transaction is expected to be closed in the third quarter of 2019.
Employees remaining 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 and respective support functions.