NEWSROOM

The technology group Feintool recorded a significant decline in sales in the first half of 2020 due to the COVID-19 pandemic. But from today’s perspective, the group expects slightly higher sales and significantly improved profitability in the second half of the year.

Feintool has published its first sustainability report for the year 2019. The report transparently communicates the company’s long-standing achievements in the areas of economics, environment, and social affairs and makes it possible to compare them with other organizations around the globe.

Feintool Japan received the "Best Quality Award" from the automotive supplier Imasen for outstanding quality management. Feintool has delivered 115 million parts to Imasen in one year without any objections.

Feintool has increased the loan agreement with its principal banks in Switzerland and Germany. The contract, signed on June 29, runs until summer 2023 and ensures operational flexibility in a challenging environment.

Electric motors are increasingly being used to power vehicles, and electricity-powered machinery is becoming widely used in agricultural applications. Feintool supports this development with its electrolamination stamping technology.

The hybrid vehicles produced by Peugeot, Citroën and Opel from 2023 onwards use a new dual-clutch transmission from the Belgian company Punch Powertrain. Numerous parts of the gearbox will be produced by the Feintool plant in Obertshausen, Germany.

The shareholders of Feintool International Holding AG approved all proposals listed at the Annual General Meeting of Shareholders on 30 April 2020. Christian Mäder and Marcus Bollig are new members of the Board of Directors.

Feintool's Annual General Meeting on 30 April 2020 will be limited to the statutory part in order to comply with the official guidelines on coronavirus (COVID-19). Feintool encourages shareholders not to attend in person, but rather to provide voting instructions to the independent voting rights representative.

Measures taken by the national health authorities to contain the coronavirus are resulting in the temporary closure of car manufacturers plants in Europe and the US. As a part of the supply chain and in order to ensure the employees safety, Feintool may be forced to take the same step corresponding to customers' releases decline.

Negative market trends caused the technology group’s performance to decline in 2019. As such, net sales fell by 6.9% to CHF 632.7 million; earnings before interest and taxes (EBIT) totaled CHF 18.9 million.

Besides Germany the technology group will offer electro lamination components for electric motors in the high-potential Chinese market as of 2020. The first production lines are being set up at Feintool’s existing plant in Taicang, close to Shanghai.

On February 19, 2020, Feintool System Parts Jena GmbH was awarded the seal "Strong Future - Demographyoriented Company" for the second time in a row and also received the NAT certificate.

In an interview with the "Bieler Tagblatt", Feintool CEO Knut Zimmer talked about the automotive market, the future of mobility and how the company responds to trends in the industry. Below you will find the most important statements from the interview.

The industrial revolution and the subsequent steps have repeatedly led to the economy and society having to adapt. How will industry 4.0 impact – and what opportunities will it bring? An article from Yannick Schilly, President and CEO of Altix Consulting Inc.

From 26 to 28 November 2019, the exhibition for smart and digital automation will take place for the 30th time in Nuremberg, Germany. Over 1600 exhibitors will present their solutions for the future of automation on a total area of 136,000 square metres.

The 12th annual Confederation of Chinese Metalforming Industry (CCMI) conference was held mid of November in Taicang. The two-days networking event with about 165 fineblanking experts from 70 companies focused on "Fineblanking lean production" as well as on site visits at CD Waelzholz and IMS Gear.

The 14th of November was dedicated to the youth: On the National Future Day, schoolkids were given a glimpse into the world of Feintool.

Due to the ongoing difficult economic environment, Feintool’s net sales for the first nine months of the 2019 financial year fell by 4.7% in comparison to the previous year (by 3.7% in local currency) to CHF 486.4 million. While net sales in the high-volume parts segment fell slightly by 0.4% to CHF 440.6 million thanks to the acquisition effect of the electro lamination stamping business. Capital goods business suffered a decline of 25.8% due to the reluctance to invest in the market.

Feintool US Operations held its annual customer symposium in Cincinnati on October 16 and 17, 2019. Leading automotive OEMs and Tier suppliers gathered to gain perspective and learn how to enhance productivity in an environment where increased global competition, disruptive technologies, tariffs, and labor disputes are the new normal.

From 9 to 12 October 2019, MAKTEK Izmir, one of the largest machine fairs in the Eurasian region, will open its doors. Feintool will presents its fineblanking portfolio to an expert audience in Izmir, Turkey.