Business

Rieter Sells Real Estate in Ingolstadt

Sale of real estate to GERCHGROUP AG
Completion of the transaction in the third quarter of 2019
Extraordinary profit contribution of around 60 million euros expected in 2019

Rieter is selling 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 euros in 2019. Rieter expects to close the transaction in the third quarter of 2019. The employees remaining in Ingolstadt will move into a new building in the second half of 2021. Rieter thus creates a modern working environment for innovative research and development work and the respective support functions.