Rieter hopes to secure financing from banks despite declining sales
Expects downturn in both automotive and textile business in 2009
Despite being hit by deterioration in the German auto industry, Rieter hopes to secure financing both in the short and mid to long-term in light of its strong balance sheet and low debt ratio. Although Rieter saw a net loss in 2008, it is confident about getting the necessary financing from banks and does not plan a capital increase. The company has reduced its investment program as well.
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