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Rieter takes control of Magee Rieter Automotive Systems

By Liz White, UT staffWinterthur, Switzerland-Rieter has acquired full control of US automotive supplier Magee Rieter Automotive Systems. Rieter has held a 50% interest in the North American carpet manufacturer since mid-1997, and signed an agreement 12 Jan 2005 to purchase the rest.This deal “represents a further expansion of Rieter’s automotive supply business in North America,” a company statement said. Automotive carpet supplier Magee Rieter, based in Bloomsburg, Pennsylvania, had sales of some $150 million (E115 million) last year. It has around 800 employees at three locations in the North America. The firm is “one of the three largest suppliers of automotive carpets in North America,” Rieter said, pointing out that General Motors, its largest customer, made Magee Rieter a GM Supplier of the Year for the twelfth successive year. Other important customers include Daimler Chrysler and Ford and Rieter said it aims to further expand its customer base in North America. International group Rieter produces systems for the automotive and textile industry. Rieter’s sales in 2003 were $2319.9 million with some 13 000 employees. Automotive Systems are $1395.3 million, while Textile Systems accounted for $913.7 million”

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