Feintool optimizes production footprint in Europe
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This is an ad hoc announcement pursuant to Article 53 of the Listing Rules (LR) of the SIX Exchange Regulation AG.
The automotive sector in Europe is currently facing a challenging market environment, compelling manufacturers and suppliers to adapt their production and business models. Feintool reviews its strategic capacity planning on a regular basis and is responding by optimizing its European production sites.
In light of the current challenges, the Feintool site in Lyss will focus its strengths on the two competence centers fineblanking (including toolmaking) and hydrogen (bipolarplates), making a significant contribution to Feintool's future, while serving as the Group's headquarters. High-volume production in Lyss - which is exposed to external factors such as the strong Swiss franc and high labor and energy costs - will be relocated to the Czech Republic by the end of 2025.
With a focus on optimizing competencies and improving efficiency, Feintool has adopted a future-oriented concept for Europe. Today, a consultation process with the employee representatives at the Lyss site is being initiated and all employees have been invited to an information session. Approximately 70 jobs are planned to be made redundant at the site. Feintool currently employs around 200 personnel at the Lyss site and 3200 at 17 locations worldwide.
Consistent focus
“The optimization of the Lyss site is being carefully assessed and prepared in the interests of all stakeholders”, explains CEO Torsten Greiner. “Since 1959, Feintool has grown from Switzerland to encompass 17 locations on three continents. With the competence centers for fineblanking and hydrogen as well as the Feintool Group headquarters, the extensive expertise in Lyss can be leveraged even more effectively and optimized as part of the repositioning.”
The planned relocation of high-volume production in Lyss by the end of 2025 means that orders will be transferred to other plants in Europe, primarily to Feintool's existing site in Most, Czech Republic. This planned change will require time and careful preparation in coordination with customers and internal specialist departments. The Feintool Group's earnings are expected to be impacted by restructuring expenses ranging from CHF 10 -12 million in 2024. Once the relocation is complete, a sustainable improvement in EBIT of CHF 7 million per fiscal year is anticipated.
Ready for the future
With its three core technologies of fineblanking, forming, and electrolamination stamping, Feintool is perfectly aligned with market requirements and can supply customers with the ideal solution on request. Whether electric, hybrid, or combustion powertrains - Feintool offers attractive solutions for all vehicle types, both within and outside the drivetrain. In addition, we offer applications in the industrial sector and renewable energies. In Lyss, for example, the innovative FEINforming technology for manufacturing high-precision bipolar plates and interconnects has been developed in recent years. These components are used by the hydrogen industry as the heart of fuel cells and electrolyzers. Feintool has already acquired customers in Asia and Europe in this segment.