Press Release: Feintool wins major contract with European automobile electric main drive manufacturer

Ad hoc announcement pursuant to Art. 53 LR

Feintool has won a substantial contract to supply rotors and stators (the main components of electric motors) to a new key customer. The multi-year contract for this renowned European OEM involves a lifetime volume in the triple-digit million Euro range. This success illustrates the importance of Feintool's strategy which focuses on electrification.

Feintool has received a multi-year contract from a renowned European original equipment manufacturer (OEM). The contract includes the delivery of stators and rotors used in the manufacturing of electric main drives for electric vehicles and has a lifetime volume in the triple-digit million Euro range.

Feintool's innovative and patented adhesive packaging connection (glulock HT) will also be used in production. With its optimized mechanical and electromagnetic properties, it is ideally suited to the requirements of the next generation of electric vehicle drives. Glulock HT helps to increase the efficiency of the electric motor and thus the driving range of the vehicle.

From the first quarter of 2025, the drive components will be produced in one of Feintool's new plants in the Stamping business unit in Germany. The components from Feintool will form the heart of the car manufacturer's latest generation of electric motors.

Knut Zimmer, CEO of the Feintool Group, is delighted: "With this contract, we are expanding our customer base with another well-known OEM for electrically powered passenger cars, and we are further establishing our market position as one of the leading manufacturers of rotors and stators in Europe. It confirms Feintool's growth trajectory in the field of electromobility, which was set by the acquisition of the Kienle + Spiess Group at the beginning of 2022."

About Feintool

Feintool is an international technology and market leader in the fields of fineblanking, forming, and electrolamination stamping for processing steel sheets. These technologies are characterized by their cost-effectiveness, quality, and productivity.

As a company driving innovation, Feintool continuously pushes the boundaries of these technologies and develops intelligent solutions that meet its customers' needs, such as high-performance fineblanking systems with innovative tools and modern manufacturing processes on the one hand, and overall processes for high-precision fineblanking, forming, and stamped electrolamination components in high quantities for demanding automotive and industrial applications on the other.

The processes we use support trends in the automotive industry. In this context, Feintool is the development partner in the fields of lightweight construction/sustainability, platform and automated drive concepts, electric drives, and hybrids.

The company, founded in 1959 and headquartered in Switzerland, has 19 of its own production plants and technology centers in Europe, the United States, China, and Japan, and is thus never far from its customers. Approximately 3 500 employees and 100 vocational trainees work across the globe on new solutions.

Feintool International Holding AG

Industriering 8

3250 Lyss

Switzerland

Media spokesperson

Karin Labhart

Phone +41-32-387-5157

Mobile +41-79-609-2202

https://www.globenewswire.com/Tracker?data=ifmJE0oEsYjIzYQsGM1GWh4c5nGrLGQknIhLId6RP5A1VScLXuaH-w46eiS6MvsE166TZ20LYCnYjHt5jpDiuohP3To4cL8zavN70ZHtYoF-71jELldmBUlt-bczpwvH karin.labhart@feintool.com

www.feintool.com

The press release can be downloaded from the following link:

Press Release (PDF) https://www.globenewswire.com/Tracker?data=P-HfIHyzrNdOYUnBxs8ClidshcXEPdagK626eUOnf7aChpTaarASZ2cApHFzwE0hPbsUWEbnAZJVrWhoVvrstUc0atB4rcGVICWD6VHuR7mrFp729eF-lWj7dnfHz_4CgEmeit9Da09zzQGMjFtHAQyfscCGffAAIqTY9qSN62wxWPDWACOgMxfYRIWOIv3D

(END) Dow Jones Newswires

November 29, 2022 01:00 ET (06:00 GMT)