Feintool takes over forming plant in China
The purchase contract for the takeover was concluded with the German Schuler Group on February 10, 2017 and it is expected to come into force by the end of March 2017. The ultra-modern plant with sophisticated transfer presses, which has existed since 2014, is located in Tianjin, around an hour east of Beijing, and currently has around 30 employees producing rotationally symmetrical cold-formed precision components, which are used in the automobile industry for the high-volume manufacture of lightweight components for efficient transmissions. Feintool is taking on all the employees, as well as the infrastructure and existing customer orders. With additional investment and existing nominations, in the medium term the plant should contribute around CHF 30 million to Feintool's turnover annually.
Focusing strategy pays off
Feintool has been strategically supplementing its core competence of fineblanking with the associated process of forming since 2012. In addition to the acquisition of a prestigious forming operation with two plants in Germany, as well as significant investment in our own forming operation in the USA, with the latest takeover in China Feintool is fulfilling customer demand for a global presence and worldwide expertise. Chairman of the Board of Directors at Feintool, Alexander von Witzleben says: "This enables us to close a strategic gap in Asia."
Global trends benefit forming
To reduce CO2 emissions by minimizing fuel consumption, the automobile industry focuses on increased efficiency and reduced vehicle weight. This includes efficient drive trains, like the current automatic and dual clutch transmissions, which are increasingly composed of lightweight components with complex levels of deformation to replace heavy cast and forged parts. At the same time costs are to be reduced with high volumes in component production. With the combined expertise of fineblanking and chipless forming, in the coming years Feintool will be able to benefit greatly worldwide from both challenges.
More about Feintool
About the Schuler Group
Schuler is a technology and global market leader in forming technology. The company provides presses, automation solutions, tools, process expertise and services for the entire metalworking industry and lightweight automobile construction. Clients include automobile manufacturers and suppliers and companies in the forging, domestic appliances, packaging, energy and electrical industries. Schuler is a leader in minting presses and implements system solutions for aerospace, rail transport and large-diameter pipe manufacturing. In the 2015 financial year, Schuler achieved a turnover of 1.2 billion euros. Following the acquisition of the tool maker AWEBA and the majority holding in the Chinese press manufacturer Yadon, Schuler now has around 6,600 employees in 40 countries. Europe, China and North America represent the largest markets. Schuler is majority-owned by the Austrian ANDRITZ Group.
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