Rieter Announces Leadership Changes And Cost Cuts Ahead Of Barmag Acquisition

(RTTNews) - Rieter Holding AG (RTRZY, RIEN.SW), a supplier of systems for manufacturing yarn, on Monday announced a series of leadership changes and new cost-cutting measures as it prepares for the planned acquisition of the Barmag division of OC Oerlikon Corp. AG (OERL.SW, OERLF, OERLF), will create a significant worldwide system provider for natural and man-made fibers.

The company expected the deal to be finalised in the fourth quarter of 2025.

The new structure aims to boost customer focus, strengthen technology leadership, improve productivity and support synergies across the group.

The company also announced further cost-cutting measures in response to ongoing market weakness, including adjusting production capacities, simplifying supply chains, and streamlining overheads.

The company expected one-off costs of 30 million Swiss Franc to 35 million Swiss Franc, leading to annual savings of just under 30 million Swiss Franc.

The Machines & Systems and After Sales divisions will be merged, with Alexander Özbahadir appointed to lead the new Short-Staple Fiber division.

Serge Entleitner will step down from the Group Executive Committee at the end of 2025 and support the company on projects until his retirement in 2027.

After closing, the Man-Made Fiber division will be integrated into the group under Georg Stausberg, who will join the Group Executive Committee.

Looking ahead from January 1, 2026, Thomas Oetterli will be the Chief Executive Officer, Oliver Streuli as Chief Financial Officer and Emmanuelle Gmür as Chief Human Resources Officer.

Rieter Holding is currently trading 0.81%, 0.0250 lesser at CHF 3.0800 on the Swiss Stock Exchange.

OC Oerlikon is currently trading 2.17%, 0.0640 higher at CHF 3.0200 on the Swiss Stock Exchange.