Forbo Reduces Investment in Machinery Firm Rieter

Baar, Switzerland, April 13, 2010--Forbo has sold most of its shares in Rieter to Artemis Beteiligungen IV AG, owned by Michael Pieper and now owns less than three percent of the textile machinery supplier.

Forbo had owned about 9 percent of the firm, but the company said its strategic and operational priorities have changed.

With the sale, Forbo said it will generate cash of about CHF 92 million and will gain additional financial flexibility. Forbo said it will use the proceeds of the sale for its strategic and operational activities as well as for a further debt reduction.