Press Release: Feintool reaches ESG targets amidst growth

Feintool is right on target with its sustainability goals: Even with the integration of the Kienle+Spiess Group last year, the proportion of renewable energies in the electricity mix was kept constant at around 40 percent. With targeted measures, the company managed to reduce annual energy consumption by 4 200 megawatt hours (MWh). Sales attributed to CO2-friendly product applications climbed to more than 50 percent. All information about Feintool's progress in ESG (environmental, social, governance) and innovation can be found in the new Sustainability Report 2022 (SA), which was published today.

"We are committed to being part of the solution in the movement to a low-carbon economy," says Feintool CEO Torsten Greiner. As early as 2021, the technology group set itself concrete targets in the areas of environment, employees, innovation, and governance, some of which have already been met (see SR p. 8). By 2030, the company aims to halve its direct self-generated greenhouse gas emissions (Scope 1 and 2). Compared with the base year 2019, these emissions have fallen by a total of 24 percent to date. During the current year, Feintool will further define the reduction path for Scope 1 and Scope 2 emissions to be reached by 2030.

New: Analysis of the steel supply chain

For Feintool, the greatest potential for the transformation to climate-neutral production lies in the sourcing of steel for parts production - in other words, in the supply chain. This is because fossil fuels are (still) used in steel manufacturing. It is here, in the supply chain, that the so-called Scope 3 emissions occur, which - as with many other companies - account for the lion's share of total emissions in Feintool's carbon footprint. However, the scope for influencing both upstream suppliers and downstream customers is limited until the end of a product's life cycle.

In a first step to quantify Scope 3 emissions related to the raw material steel, Feintool has identified and analyzed the corresponding upstream and downstream supply chains (see SR, p. 10- 13). The next step is to calculate the emissions and develop approaches for reduction. In any case, the climate-related transformation process creates attractive opportunities for Feintool not only in the automotive industry but also in wind power and other industrial applications such as heat pumps.

The full Sustainability Report 2022 is available at www.feintool.com/nachhaltigkeit/. It is based on the current, internationally leading standards of the Global Reporting Initiative (GRI). All key figures can be found at www.feintool.com/newsroom/.

About Feintool

Feintool is an internationally active technology market leader in the field of fineblanking, formed steel components and punched electro sheet metal products. Cost-effectiveness, superior quality and productivity distinguish these technologies.

As an innovation driver, Feintool continually pushes the boundaries of these technologies and develops intelligent solutions to meet its customers' requirements. Feintool offers high-performance fineblanking systems, innovative tools and state-of-the-art manufacturing processes for all aspects of high-volume sheet metal applications in the automotive industry and other demanding industrial sectors as well as renewable energies. The processes used support the megatrends of green energy generation, storage, and application.

Founded in 1959 and headquartered in Switzerland, the company owns 19 production plants and technology centers in Europe, the United States, China, and Japan, ensuring close proximity to its customers. Around the globe, about 3,500 employees and over 100 apprentices are at work on new solutions to create key advantages for Feintool customers.

Contacts:

Karin Labhart

phone: +41 32 387 51 63

mobile:+41 79 204 41 13

karin.labhart@feintool.com https://www.globenewswire.com/Tracker?data=SL3Ien7eQJQH_q8Y6fJu9edSzHCy_e-fpT1rHZR-gAjVf-AhlUgT4m9shwBbTDCPRr3WJAucUcLBGiXLQbntNqpp8J_tMuUP8c5-iZx3zzyD0u3VcZmm4KjHEjLentFQ

The press release can be downloaded from the following link:

Press Release (PDF) https://www.globenewswire.com/Tracker?data=G8tHA_5c_cJ-5SKR_V-J773ool7HTgbpdSMiEpqfVGHOexwQe3LoETE_wtYHVM_dUrey__qBXUD6oSHB4Rtz_cedErgkb5x1xFOjxEZFAbv7c9HNTs8CuqFdqMyv5hBW77ZSdzOsflMYmFJl05BeN9NlQnc6WRfa9QU03m7qfs9Kxe_LRkm-j0nP83a_5_pd

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May 01, 2023 05:00 ET (09:00 GMT)