Feintool optimizes production footprint in Europe
27 Mayo 2024 - 11:30PM
UK Regulatory
Feintool optimizes production footprint in Europe
This is an ad hoc announcement pursuant to Article 53 of the
Listing Rules (LR) of the SIX Exchange Regulation AG.
The automotive sector in Europe is currently facing a
challenging market environment, compelling manufacturers and
suppliers to adapt their production and business models. Feintool
reviews its strategic capacity planning on a regular basis and is
responding by optimizing its European production
sites.
In light of the current challenges, the Feintool site in
Lyss will focus its strengths on the two competence centers
fineblanking (including toolmaking) and hydrogen (bipolarplates),
making a significant contribution to Feintool's future, while
serving as the Group's headquarters. High-volume production in Lyss
- which is exposed to external factors such as the strong Swiss
franc and high labor and energy costs - will be relocated to the
Czech Republic by the end of 2025.
With a focus on optimizing competencies and improving
efficiency, Feintool has adopted a future-oriented concept for
Europe. Today, a consultation process with the employee
representatives at the Lyss site is being initiated and all
employees have been invited to an information session.
Approximately 70 jobs are planned to be made redundant at the site.
Feintool currently employs around 200 personnel at the Lyss site
and 3200 at 17 locations worldwide.
Consistent focus
“The optimization of the Lyss site is being carefully
assessed and prepared in the interests of all stakeholders”,
explains CEO Torsten Greiner. “Since 1959, Feintool has grown from
Switzerland to encompass 17 locations on three continents. With the
competence centers for fineblanking and hydrogen as well as the
Feintool Group headquarters, the extensive expertise in Lyss can be
leveraged even more effectively and optimized as part of the
repositioning.”
The planned relocation of high-volume production in Lyss by the
end of 2025 means that orders will be transferred to other plants
in Europe, primarily to Feintool's existing site in Most, Czech
Republic. This planned change will require time and careful
preparation in coordination with customers and internal specialist
departments. The Feintool Group's earnings are expected to be
impacted by restructuring expenses ranging from CHF 10 -12 million
in 2024. Once the relocation is complete, a sustainable improvement
in EBIT of CHF 7 million per fiscal year is anticipated.
Ready for the future
With its three core technologies of fineblanking, forming, and
electrolamination stamping, Feintool is perfectly aligned with
market requirements and can supply customers with the ideal
solution on request. Whether electric, hybrid, or combustion
powertrains - Feintool offers attractive solutions for all vehicle
types, both within and outside the drivetrain. In addition, we
offer applications in the industrial sector and renewable energies.
In Lyss, for example, the innovative FEINforming technology for
manufacturing high-precision bipolar plates and interconnects has
been developed in recent years. These components are used by the
hydrogen industry as the heart of fuel cells and electrolyzers.
Feintool has already acquired customers in Asia and Europe in this
segment.
About Feintool
Feintool is an international technology and market leader in
electrolamination stamping, fineblanking, and forming. We
manufacture high-quality precision parts in large volumes from
steel. We supply the automotive industry, energy infrastructure
equipment providers, and all manner of high-end industrial
manufacturers. Feintool's products perfectly complement the
megatrends for green energy generation, storage, and usage.
Our core technologies deliver measurable cost-efficiency,
consistent quality, and improved productivity. Feintool constantly
expands the horizons of its production methods and develops
intelligent solutions, innovative tools, and state-of-the-art
manufacturing processes in line with customer needs.
Founded in 1959 and headquartered in Switzerland, the company
has 17 production sites, 3,200 employees and over 100 vocational
trainees in Europe, the USA, China, Japan and – as of 2025 – India.
In 2023, turnover amounted to 848 million Swiss francs. Feintool is
publicly listed and majority-owned by the Artemis Group.
Feintool International Holding AG
Industriering 8
3250 Lyss
Switzerland
Media spokesperson
Karin Labhart
Phone +41 32 387 51 57
Mobile +41 79 609 22 02
karin.labhart@feintool.com
www.feintool.com
The press release can be downloaded from the following link:
Press Release (PDF)
Feintool (LSE:0QLM)
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