Press Release: Adhoc announcement: Feintool takes over forming plant in China

Feintool International Holding AG / Adhoc announcement: Feintool takes over forming plant in China . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement.

With the acquisition of the Chinese forming plant Schuler (Tianjin) Metal Forming Technology Center Co. Ltd. from the German Schuler Group, Feintool can now offer sophisticated forming applications in all important automotive markets and thus continue to expand its market position.

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.

About Feintool

Founded in 1959, this technology company is a world leader in the development of fineblanking systems and in the production of pre-finished fineblanked and formed components for demanding industries, particularly the automotive industry. Feintool maintains a close working relationship with its customers throughout the entire fineblanking process - from component and tool design, to system engineering and large-scale component production.

With its combination of fineblanking and cold forming, Feintool is the only full-service provider for the efficient production of complex precision components in large quantities. Feintool's processes support the current automotive trends toward lighter vehicles, improved transmissions and module types. As a driver of innovation, Feintool consistently pushes the boundaries of fineblanking.

With locations in Europe, Japan, China and the US, Feintool is represented in the most important automotive markets in the world. Headquartered in Lyss, Switzerland, Feintool achieves revenues of roughly half a billion Swiss francs and employs around 2,200 people. Feintool trains about 60 young people at its various locations, as tool mechanics, engineers, mechatronics and other professions, thus ensuring that its ranks can be replenished with in-house talent.

www.feintool.com

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.

www.schulergroup.com

Feintool International Holding AG

Industriering 8 - CH-3250 Lyss

Switzerland

www.feintool.com

Media spokesperson

Karin Labhart

Phone +41 32 387 51 57

Mobile +41 79 609 22 02

karin.labhart@feintool.com

The press release can be downloaded from the following link:

Press Release (PDF): http://hugin.info/100443/R/2077900/781782.pdf

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Feintool International Holding AG via Globenewswire

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Feintool International Holding AG

Industriering 8 Lyss Switzerland

ISIN: CH0009320091;

http://www.feintool.com (END) Dow Jones Newswires

   February 13, 2017 01:00 ET (06:00 GMT)- - 01 00 AM EST 02-13-17