Annual Report (PDF) - Feintool

Feintool Group
Annual Report
2005/2006
for safe, reliable functioning

The Feintool share: key figures
There are no registration restrictions
on Feintool International Holding’s
unitary stock.
A majority of the 565,725 registered
shares are held by 2,303 investors
among the public at large. The free
float is currently 70.2%.
The largest single shareholder is the
company's founder and Chairman of
the Board of Directors, Fritz F.
Boesch, who, at the year-end, held
168,804 shares or 29.8% of the total.
The management and staff hold
23,495 shares (4.2% of total share
capital).
1999
Share price performance Source: Life Media AG
2000
2001
2002
Share performance in
the year under review
Since reaching a low point in July
2006, the Feintool share has recovered
substantially, closing at CHF
324 on 30.09.06.
Stock trading
Feintool shares are traded on SWX
Swiss Exchange in Zurich under
Swiss securities no. 932009.
Telekurs FTON
Reuters FTONn.S
–– Feintool –– Swiss Performance-Price Index –– Swissindex Machinery-Price Index
Share structure FY 2005/06 Previous Year Key figures as at 30.09.06 Previous year Agenda 2007
1 - 10 725 795
11 - 50 984 1 234
51 - 100 333 367
101 - 500 202 221
501 - 1 000 33 20
1 001 - 5 000 21 24
5 001 - 10 000 1 5
over 10 000 4 3
2003
2004
2005
Registered shares
(par value CHF 50) 565 725 565 713
Nominal share capital
(CHF m) 28,3 28,3
Operating profit
per share (CHF) 50.45 47.21
Undiluted earnings
per share (CHF) 29.45 27.37
Shareholders’ equity
per share (CHF) 247.62 235.23
Dividend
per share* (CHF) 10.– 8.–
Payout ratio* % 36.3 31.1
* Proposal of the Board of Directors
2006
Address and contacts:
Feintool International Holding
Industriering 8
3250 Lyss
Switzerland
Phone: +41 (0)32 387 55 99
Fax: +41 (0)32 387 57 81
Email: investor.relations@feintool.com
www.feintool.com
Reto Welte; from 1.2.07: Jürg E. Wenger
CFO of the Feintool Group
Sandra Streit
Investor Relations
Urs Feitknecht
Corporate Communications
media contact
Share prices
High 8.5.2006 30.9.2005
(CHF) 363.25 349.50
Low 19.7.2006 27.10.2005
(CHF) 298.25 204.–
Closing price as at 30.9.2006 30.9.2005
(CHF) 324.– 342.–
Market capitalization
FY 2005/06 FY 2004/05
FY 2005/06 FY 2004/05
High 8.5.2006 30.9.2005
(CHF m) 205,5 197,7
Low 19.7.2006 27.10.2004
(CHF m) 168,7 115,4
At closing date 30.9.2006 30.9.2005
(CHF m) 183,3 193,5
AGM 23 January
Report on 1st quarter trend Beginning of February
Half-year report Mid-May
3rd quarter report Mid-August
Sales figures End-October
Quiet period End-October to 27 November
Media conference 27 November

Comparison of key figures*
Net sales
CHF million*
500
450
400
350
300
250
200
150
100
50
0
01/02
02/03
03/04
04/05
05/06
EBITDA
CHF million*
Operating result
(EBIT) CHF million*
* Figures on IFRS basis from 02/03. Previous years based on Swiss GAAP FER.
Sales by segment
55
50
45
40
35
30
25
20
15
10
5
0
Feintool Fineblanking/Forming 63.4% (62.1%)
Feintool Automation 22.1% (22.6%)
Feintool Plastic/Metal Components 14.5% (15.3%)
Employees by segment
01/02
02/03
03/04
04/05
Feintool Fineblanking/Forming 53.5% (51.7%)
Feintool Automation 27.5% (27.2%)
Feintool Plastic/Metal Components 19.0% (21.1%)
05/06
55
50
45
40
35
30
25
20
15
10
5
0
01/02
02/03
03/04
04/05
Sales by sector
05/06
Automotive 84.2% (86.2%))
Electronics/telecoms 3.8% (4.7%)
Others 12.0% (9.1%)
Employees by region
Europe 73.9% (73.4%)
North America 19.7% (21.6%)
Asia and rest of world 6.4% (5.0%)
Net income
CHF million*
55
50
45
40
35
30
25
20
15
10
5
0
-5
01/02
02/03
03/04
04/05
05/06
Sales by region
Free cash flow
CHF million*
55
50
45
40
35
30
25
20
15
10
5
0
01/02
02/03
03/04
04/05
05/06
Europe 64.0% (60.2%)
North America 21.0% (25.3%)
Asia and rest of world 15.0% (14.5%)

Key figures at a glance
1)
4) 4)
Feintool Group 2005/06 2004/05 2003/04 2002/03 2001/02
Net sales CHF m 501.0 487.2 452.2 408.9 417.4
Change from previous year % +2.8 +7.7 +10.6 -2.0 -11.4
Fineblanking/Forming CHF m 319.2 304.9 268.0 246.1 242.3
Automation CHF m 111.1 110.6 109.4 98.1 115.6
Plastic/Metal Components CHF m 72.9 75.2 77.3 66.5 59.8
Earnings before interest, tax,
depreciation and amortization (EBITDA) CHF m 49.2 46.1 37.3 30.6 28.8
Change from previous year % +6.7 +23.6 +21.7 -47.9
As a percentage of sales % 9.8 9.5 8.2 7.5 6.9
Operating profit (EBIT) CHF m 28.5 26.7 14.8 8.0 1,2
Change from previous year % +6.7 +80.4 +84.7 +595.0 -96.4
As a percentage of sales % 5.7 5.5 3.3 2.0 0.3
Net earnings CHF m 15.6 14.6 1.6 -0.6 -7.3
Change from previous year % +6.9 +812.5 +379.1 +93.2 -137.2
As a percentage of sales % 3.1 3.0 0.3 -0.1 -1.8
Investments in property, plant and equipment CHF m 21.7 23.0 10.6 10.3 9.3
Total assets CHF m 426.7 417.9 403.3 411.6 320.9
Shareholders’ equity CHF m 140.1 133.1 117.5 108.7 130.8
Equity ratio % 32.8 31.8 29.1 26.4 40.8
Net debt CHF m 138.0 143.1 130.7 152.8 64.3
As a percentage of equity capital % 98.5 107.5 111.3 140.6 49.2
Number of employees (excl. 91 apprentices) 30.9. 1 742 1 799 1 777 1 769 1 683
Feintool International Holding
Dividend CHF 10.– 8.– 4.– 0.– 4.–
Total distribution CHF m 5.7 4.5 2.3 0.– 2.3
Payout ratio % 36.3 31.1 145.8 –.– –.–
Market capitalization (as at 30 Sep.) CHF m 183.3 193.5 118.2 93.9 103,5
Earnings per share 3) (undiluted) CHF 29.45 27.37 2.94 -1.39 -13.01
Equity capital per share 3)
2)
CHF 247.62 235.23 207.62 192.20 232.20
P/E ratio (as at 30 Sep.) 11.0 12.5 71.1 –,– –,–
1) Restated.
2)
As proposed by the Board of Directors.
3)
Based on 529 462 shares for 2005/2006, 532 092 shares for 2004/2005, 565 713 shares for 2003/2004, 565 713 shares for 2002/2003
and 563 325 shares for 2001/2002.
4)
Changeover from Swiss GAAP FER to IFRS. Comparison with year-back figures only possible for net sales.

Cover
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Page 33
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Page 37
Page 39
Page 40
Cover
Appendix
Contents
Shares, Key Figures
Profile of the Feintool Group
Report to the Shareholders
Feintool on Track
Financial Review
Fineblanking/Forming Segment
Automation Segment
Plastic/Metal Components Segment
North America
Research & Development
Human Resources
Environment and Recycling
Group Structure and Global Presence
Group Companies
Financial Report
Corporate Governance/Responsibility
The Annual Report is published in German (original version) and English.
Following the General Meeting of Shareholders, all reports will be available at
www.feintool.com – Investor Relations – Annual Reports.
1

“Ever faster, smaller and more precise – afag’s renowned red
handling modules are simply the best.”
Patrick Siegl, R&D Assembly Components, Afag AG, Huttwil (Switzerland)

Profile of the Feintool Group
With its successful core business as a
foundation and an existing platform of
regional production and sales companies,
Feintool is ideally equipped to
meet customer requirements on a partnership
basis.
We pride ourselves on a strategy
geared to long-term success, anefficient
group structure, a uniform corporate
culture and proactive utilization of
Through cross-divisional research &
development activities, Feintool helps
buyers of its systems to continually
strengthen their competitive position,
while ongoing development of new
applications guarantees their technological
lead.
synergies to ensure maximum satisfaction
for customers, shareholders and
employees.
As a specialist in system construction,
the Feintool Group offers its Fineblanking
Technology and Automation
customers engineering, complete systems,
tool systems, handling modules
and services with a high return on investment.
It helps them find the best – and
most cost-effective – technology for the
production of parts, components, assemblies
and finished products.
As a reliable supplier in the System
Parts and Plastic/Metal Components
field, Feintool offers its customers innovative,
economical solutions for complex
new applications using fineblanking/
forming and plastic/metal compound
components. The company combines
all this with global logistics services to
deliver the maximum value for its customer’s
money.
Feintool technology for safe, reliable functioning
3

“By working at night on the 3rd shift, I have time for my family in
the afternoons.”
Silvio Goebel, Press Operator, Promera Feinschneid- und Umformtechnik GmbH

Report of the Board of Directors
Dear shareholders
Feintool can look back at a successful
but eventful financial year.
Trends in the global economy had a
positive impact at Feintool too. The
readiness to invest in production systems
was positively impacted by good
consumer confidence, particularly in the
automotive sector. Feintool’s growing
market success, however, is the result
of a rigorous strategy that has been
implemented consistently over a number
of years. This is reflected in our
sales, incoming orders and also in our
very substantial order book.
Continued increases in
sales, EBIT and earnings
Although it was not possible to meet all
of our targets, the positive trend for the
Group as a whole continued. The 2.8%
increase in sales to CHF 501.0 million
was generated primarily by the Fineblanking/Forming
segment. The Automation
segment enjoyed a small gain
while the Plastic/Metal Components
segment saw business decrease.
Thanks to a significant increase in efficiency
in certain areas, EBIT was boosted
by 6.9% to CHF 28.5 million. Despite
higher investments, special outlays and
allowances, earnings exhibited further
improvement by 6.9% to CHF 15.6 million.
Uneven conditions in the
continental markets
In Europe, demand is increasing for
Feintool products and services. This is
true despite (and also thanks to) highly
automated production in the EU and
also relocation to Eastern Europe and
Asia. Customers in Germany and Italy
in particular invested in the renewal of
production systems.
The American automotive industry is
working to overcome one of its greatest
challenges ever. The carmakers are in
the process of rethinking how to build
smaller, more efficient models. Part of
the problem lies in growing competition
from Japanese and European transplant
products. The production units spun off
years ago are now the major suppliers
but they are battling financial problems.
Production is also being shifted to other
NAFTA countries such as Mexico in
many instances, and there is a noticeable
trend towards increased investment
in Brazil.
Orders from existing contracts are declining
and new projects are being delayed.
Despite this problematic backdrop, the
American Feintool operations managed
to produce a positive result under the
leadership of Ralph Hardt. Nevertheless,
utilization is not yet ideal in all of the
American Feintool plants.
In Asia, the automotive industry is
booming in countries besides Japan and
Korea. All of the well-known carmakers
as well as a number of domestic Chinese
makers are either starting up or increasing
production in China. Feintool Group
is involved in China through all of its
segments in different ways, either
directly or indirectly. For example,
Feintool's company Swisstec provides
sales and service for the Group as well
as for about ten other well-known companies
from Switzerland and Germany.
Our new customer ElringKlinger uses a Feintool
HFA 7000plus with a progressive compound tool
for fully automated production of the patented
Metaloprint control board for automatic transmissions.
Variable success in the
different segments
Another record year was reported by
our traditional core area of expertise:
Fineblanking/Forming. Additional
increases in sales were achieved for
presses and systems and in toolmaking,
as well as in global parts production.
While the results were good, there is
still potential for improvement. We see
great promise for the future in certain
newly acquired customers and applications
in demanding sectors.
In the Automation segment, the ongoing
success stories represented by the
automation components under the Afag
and Baltec brands were supplemented
by excellent results in automation systems
sold under the clictec and modutec
brands. Here too, there were some
major new customers and applications.
In the composite components (Plastic/
Metals) segment, raw material prices
are trending upwards and global market
conditions have grown even tougher.
Adaptation to global customer requirements
has been reflected in higher
costs for process improvements and
more intensive automation. Sales and
earnings are not yet on track. The
desired expansion of our customer portfolio
has not yet been realized to a sufficient
extent. A long-term project will
exploit the basically positive future outlook
while giving our planning effort the
most promising direction. Based on a
reworked management team and in
coordination with long-term key customer
Bosch, development of new and
highly challenging applications is being
stepped up. Likewise, the capacity situation
at the Biberist headquarters as
well as the sites in the USA, Thailand
and possibly also Mexico is being
assessed.
5

A tradition of close
cooperation as a basis for success
Thanks to the great deal of attention we
have paid to building productive partnerships
in the areas of pressmaking, raw
materials and lubricants, Feintool is
capable of offering its customers optimal
solutions. Feintool is also typically
brought in as a technology partner by
well known companies early in the
development stage of new components,
assemblies, systems and finished products.
On the one hand, our customers are
mutual competitors in the broad field
of sheet metal work and automated
assembly of their products. However,
they also represent – within the Feintool
network – expert partners for the development
of new and more efficient manufacturing
systems and production
processes. This is an esteemed position
for us which entails utmost respect for
confidentiality.
Feintool has successfully cooperated
with the best-known technical universities
in countries including Switzerland,
Germany and China for decades in
some instances. Over the past financial
year, we have worked to redefine this
cooperation and take it to a higher level.
We enjoy the results along with our customers
in the form of future competitive
benefits.
Synergies between the Feintool
segments are increasingly crucial,
whether inside the Group or among our
mutual customers, which we consider
part of our work. There is no doubting
it: Components produced in a costeffective
manner from metals or plastic
should also be further processed and
assembled using automated technologies
in the most efficient way possible.
It is here that the Feintool benefit comes
into play: Everything from a single supplier.
Afag AG in Huttwil, Switzerland, celebrated its 50th
anniversary in June. As a leader in automation
technology, this company lies at the origin of the
Afag Group which joined Feintool in 2001.
6
Strategic orientation
The Feintool Group's strategy, involving
the core areas of Fineblanking/Forming
and Automation and the plastic/metal
components business now being developed
on the successful global Feintool
platform, remains as sound as ever.
Adaptations in response to global trends
and new customer requirements are an
ongoing challenge for Group Management
and the Board of Directors.
Feintool Fineblanking Technology, headed
by Christoph Trachsler, is on its way
to achieving another record year – using
all its available resources yet without
neglecting the development of futureoriented
process steps and systems.
In addition, measures have been introduced
to successfully challenge the
competition in the Japanese market.
System Parts, headed by Heinz Loosli,
has again produced what seems like a
more or less guaranteed increase in
results. This applies to Europe and also
to Japan. However, in North America
there were temporary setbacks that have
impacted the three plants differently.
Our main competition is not only in lowwage
countries but also in highly developed
industrial nations. Accordingly, in
addition to economical mass production
based on dependable processes, flexible
and efficient automatic assembly is
also critical in the manufacture of products.
Under the leadership of Norbert Müller,
Automation has enjoyed ongoing positive
development in this area and is well
established. Integration of the four business
units into the segment and into the
Feintool Group has progressed further.
The Plastic/Metal Components segment
is in a critical shake-up phase. After
Thomas Grichting resigned for healthrelated
reasons, Bernhard Zubler took
over leadership of the parent company.
A new segment management team is
being formed.
The ongoing reduction in the number
of suppliers in the global automotive
industry along with measures requested
by long-term key customer Bosch to
improve processes, efficiency and quality
has necessitated the intervention of an
expert task force. One important topic
here is related to expansion of our core
expertise in toolmaking and mouldmaking,
aiming at development of the complex
compound components of the
future. Based on close cooperation
that includes contacts at many different
Bosch plants, these capacity-related
and regional needs of the future are
being investigated and defined, taking
account of new and different customers
as well.
The plant that was launched in Thailand
in the spring will require start-up aid
from the segment for some time until
the regional sales organization and
cooperation with nearby global customers
have evolved sufficiently.
Within NAFTA, Mexico is becoming
more and more important. Accordingly,
we are planning to build a base there
in a step by step process with support
from the Feintool operations in Ohio and
Tennessee.

Changes in Group Management
After about three years with us, CEO
Reto Hartmann and CFO Reto Welte
are leaving to take up new challenges.
Health-related reasons have simultaneously
forced the Head of the Plastic/
Metal Components segment, Thomas
Grichting, to relinquish his post at
Feintool. The Board of Directors regrets
these departures and would like to
thank all three gentlemen for their great
dedication while at Feintool.
We are pleased to have found a new
CEO and CFO in the persons of
Joachim Kaufmann and Jürg E. Wenger.
Both are highly qualified to continue taking
the company and its customers forward
along the successful route chosen.
Joachim Kaufmann,
CEO starting
January 1, 2007
Jürg E. Wenger,
CFO starting
February 1, 2007
Fritz F. Boesch
Chairman of the Board of Directors
Time off from the Board of Directors
Due to unexpected complications from a
knee operation, I will be taking a break.
Deputy Chairman Alexander von Witzleben
will assume the role of Chairman
of the Board of Directors for six months.
I would like to thank him and the other
members of the board for their significant
commitments during this not so
easy time.
Proposed dividend
In accordance with its long-term dividend
policy and the positive business
development, the Board of Directors is
proposing a dividend of CHF 10.00 per
share (prior year: CHF 8.00) at the
Annual General Meeting of Shareholders
on January 23, 2007. I look
forward to seeing you at this AGM.
A word of thanks
On behalf of the Board of Directors, I
would like to express my thanks to the
Group Management and employees
from all of the Feintool operations for
their hard work and dedication to our
customers.
I would also like to express a special
thanks to our loyal partners and customers
and also to our shareholders for
their trust in our company.
Confident outlook
The Board of Directors and the new
Group Management will work together
to use all the Feintool Group's strengths
to ensure its continued success. We are
working to analyse our weaknesses and
eliminate them as quickly as possible in
order to drive forward our organic growth.
We hope to use our expertise and
capacity in an even more carefully targeted
fashion so as to better exploit
new and existing market opportunities
and rectify any shortfalls.
With this aim in mind, we will make the
necessary investments to safeguard the
Feintool Group's short- and long-term
prospects.
Our incoming orders and orders in hand
are very good, particularly in our core
business. Assuming the economic situation
remains unchanged, we feel confident
that we have begun another successful
financial year in 2006/07.
Fritz F. Boesch
Chairman of the Board of Directors
7

“Our state-of-the-art riveting systems allow customers to rivet
pretty much anything – short of the Eiffel Tower!”
Sandro Canzian, Machine Technician, BalTec AG, Pfäffikon (Switzerland)

Operating results on track overall
The past financial year produced an
improvement in the figures for the entire
2005/06 period. Overall, we can look
back on a successful year.
Feintool itself made a very significant
contribution to this success. Based on
intensified development efforts, we managed
to ready new products which were
launched through active marketing. New
customers were acquired or won over
for new applications.
The economy also played a role of
course. Increasing global consumption
bolstered the willingness of industrial
players to invest. This applies particularly
to the productivity increases and cost
optimizations necessitated by competitive
pressures.
However, external circumstances and
internal occurrences prevented even
better results. Global pricing pressures
and production displacements between
continents call for leaner processes and
more flexible logistics. Raw materials
have become scarcer and more expensive.
Feintool is hard at work adapting
and optimizing.
Key figures significantly
improved at all levels
The Financial Report provides a
detailed look at the further improvement
in the key figures. The table below summarizes
these figures at a glance and
shows that Feintool is on the right path.
Key figures
(CHF m)
05/06 04/05 %
Sales 501.0 487.2 +2.8
EBIT
Consolidated
28.5 26.7 +6.7
net income
Shareholders’
15.6 14.6 +6.9
equity 140.1 133.1 +5.3
Orders on hand 171.0 165.6 +3,3
The 5-day automobile
The primary objective of different carmakers, i.e.
maximum flexibility for making changes with the
shortest possible delivery time, is a reality for the
entire production chain of global suppliers. In
fact, the things that appeal most to consumers
represent a big problem for the supplier industry.
Regional breakdown
As always, Europe represents the most
important market for Feintool presses
and automation systems. This applies
primarily to the old EU countries but is
true increasingly also of the new EU
members and the rest of Eastern
Europe. The economies of the former
Soviet states are making gradual
progress.
Requirements in the parts and components
business for the automotive
industry are growing continuously.
Feintool is working to meet this challenge
with its ongoing improvement
programs and its wealth of expertise.
In North America, the systems customers
are less eager to invest. In the
parts business, competition has increased
in a shrinking market. Investment continues
to involve shifting production to
less expensive countries in South
America. Global customers with production
there are increasingly demanding
on-site production by their suppliers.
Feintool has decades of experience
as a supplier of fineblanking systems in
Japan, China and Korea, but the company
is encountering increased regional
competition in recent years. In the area
of riveting machines, the dense network
of representatives is working well.
In China, Feintool is enjoying great
success with its own sales and service
company Swisstec, which also acts as
a representative for well-known Swiss
and German companies.
In the components business, Feintool
has been able to gain a foothold primarily
in Japan as a successful supplier to
the automotive industry. The new plant
in Tokoname has also been useful for
supplying China.
In Thailand, production of plastic compound
components has begun.
9

Sector breakdown
The automotive industry continued to
experience relatively stable growth
worldwide. Whether directly or indirectly,
Feintool makes 85% of its sales through
the automotive industry. This involves
technology and systems on the one
hand, with the company acting as a
supplier of precision parts and components
made from metal and/or plastic on
the other hand. Feintool supplies brandname
manufacturers as well as system
suppliers.
The numerous innovations being produced
in the automotive industry are
particularly important for Feintool’s
future viability, and the company is
closely involved in development efforts
in this context. Currently, lighter but
more complex components are being
created to ensure reliable functioning
in new models five years from now.
In all of the segments, it was also possible
to realize new projects for other sectors
and acquire additional applications,
many of which we are not at liberty to
describe owing to confidentiality agreements.
For example, exciting solutions
have been developed for components
intended for use in the cosmetics industry,
medical technology, watchmaking
and other areas.
In September in Shanghai, we celebrated 10 years
of technical cooperation between Feintool and the
Shanghai Jiao Tong University. Here we see Prof.
Xue-yu Ruan and Fritz Boesch in the front row.
10
Every car that rolls off the assembly
line, no matter what the brand, uses 50
to 200 components (depending on the
model) that were manufactured somewhere
in the world either by Feintool
itself or using Feintool technology.
Research & development
Feintool works through its Chief
Technology Officer to ensure coordinated
research & development efforts
within the Group. Some projects are
also tackled externally in cooperation
with well-known international technical
universities.
At a colloquium sponsored by Feintool
in Aachen, Germany, an extended plan
of cooperation was developed together
with partners from Aachen, Munich,
Shanghai and Zurich.
Synergies among the segments
Synergies are generated by crossdivisional
cooperation involving a
diverse range of groupings.
This includes opportunities involving
mixed training of executives, meetings
to share insights between technical
specialists, and international sales and
representative meetings.
The end result is that our diversified
global customers can profit from
comprehensive expertise in the form
of products and services from a single
source: the Feintool Group.

Environmental certification for Lyss
Feintool, which has always been committed
to environmental protection and
work safety, has redefined its environmental
policy, pushed forward swiftly
with its implementation and integrated
the policy in its management system. As
a first step, the site in Lyss succeeded
in obtaining ISO 14001:2004 certification.
A word of thanks to our employees
Our employees across the globe have
displayed an extraordinary degree of
commitment to our customers. We owe
you all a debt of gratitude. Satisfied customers
and dedicated employees underpin
Feintool's success.
Heinz Loosli
Head of System Parts
Ad interim Co-Head of Group
Management
Outlook
We feel confident about the 2006/2007
financial year. We are assuming that the
global economic situation will not change
dramatically and that prices for raw
materials will tend to stabilize.
The orders on hand for the Group as
a whole are very sound, and additional
projects of interest are about to be completed
satisfactorily. We are thus looking
forward to another successful year for
Feintool.
Reto Welte
Chief Financial Officer
Ad interim Co-Head of Group
Management
In October, Feintool made a Group appearance at
the EuroBlech technology tradeshow in Hanover,
Germany, and presented a new generation of presses.
11

“FeinNET lets us span a world of global enterprises.”
Hermann Schmid, Systems Engineer, Feintool International Management AG,
Lyss (Switzerland)

Financial Review
Feintool Group Consolidated Income
Statement
Sales
The Group's sales rose by 2.8% to CHF
501.0 million (previous year: CHF 487.2
million). The rise in sales was primarily
generated by the Fineblanking/Forming
segment. The Automation segment succeeded
in lifting its revenues slightly,
while Plastic/Metal Components suffered
a decline in sales.
In Fineblanking, sales expanded to CHF
319.2 million from CHF 304.9 million in
the previous year. The components
business reported growth in excess of
10% and sales of presses also showed
another rise, with the result that the
Fineblanking/Forming segment grew
by 4.7% in overall terms.
As for Automation, the increase to CHF
111.1 million (CHF 110.6 million) equated
to growth of around 0.5%, while Plastic/
Metal Components achieved sales of
CHF 72.9 million (CHF 75.2 million).
This fall in sales was primarily attributable
to the loss of one particular order.
Sales by region displayed a varied
trend. In Europe they increased significantly
compared with the prior year.
Asia also reported an impressive rise
in sales. By contrast, sales in the US fell
amid difficult market conditions. A breakdown
by sector shows only minimal
changes. Homework+Leisure has now
become the second most important sector
following a near doubling of sales,
taking over the position occupied by
Computer+Electronics in the previous
year.
Gross margin
The gross margin was 36.2% (36.9%),
0.7 percentage points lower than in the
prior year – a development that was due
mainly to the product mix. The Fineblanking
components business in particular,
but also Plastic/Metal Components,
were producing more components entailing
higher external expenditure. This
negative trend was only partly offset by
continuous improvements in production
processes. With the exception of Japan,
there was no change in raw material
prices in the year ended 30 September
2006 from the levels of the prior year.
The high capacity utilization rate for
Automation, on the back of an excellent
order portfolio at the start of the year,
led to another 0.6% improvement in
margins in spite of the highly competitive
environment. Enhancements to
preliminary project calculation and monitoring
processes also greatly assisted
this improvement.
By contrast, Plastic/Metal Components
was unable to match the margins it
achieved in the prior year. It too had to
contend with very difficult market conditions.
The rationalization measures that
had been implemented proved unable to
offset the extreme pressure on prices.
13

Operating profit (EBIT)
The Feintool Group generated an operating
profit of CHF 28.5 million (CHF
26.7 million) in the reporting period.
This equates to a 6.7% rise in EBIT
compared with the prior year. The EBIT
margin was 5.7%, representing another
increase in relation to the year before.
The improvement versus the prior year
is attributable to higher sales and a further
reduction in the level of operating
expenses. This served to offset the
slightly poorer margin and higher depreciation
owing to investment in additional
capacity for fineblanking presses and
systems in the previous year.
Employee compensation increased
year-on-year due to the additional
capacity required, together with a
strengthening of the sales network.
Operating expenses fell slightly versus
the prior year, in spite of the commissioning
of new plants in Tennessee and
Tokoname in 2004/05 and in Thailand in
2005/06. Rental and leasing costs were
unchanged from the prior year's level.
There was a further reduction in the
administrative component of administration
and sales expenses.
14
Financial result
Consolidated financial income declined
by CHF 0.7 million in relation to the
prior year. This deterioration in financial
income, which came about in spite of a
further reduction in interest expenses
(due to lower financial debt), is attributable
to the realization of currency losses.
The accrued interest on the 2% convertible
bond 2004–2009 resulted in a noncash
financial expense of CHF 1.9 million
(CHF 1.8 million).
Taxes
The tax rate fell to 19.8% from the previous
year's level of 21.4%. This reduction
is a result of the significant improvement
in the earnings position at a number
of Group companies, which benefited
from tax loss carry-forwards stemming
from prior years. The reduction
was also helped by the restructuring
measures introduced in the prior year,
however.
Net income
Following a surplus of CHF 14.6 million
in the previous year, net income rose
once again to CHF 15.6 million for the
year ended 30 September 2006. The
increase reflected the positive influence
of higher EBIT and an unchanged tax
level, but was moderated by the poorer
financial result.
Feintool Group
Consolidated Balance Sheet
Total assets amounted to CHF 426.7
million as at 30 September 2006, a
modest rise on the previous year (CHF
417.9 million). Cash and cash equivalents
increased significantly from CHF
14.9 million to CHF 24.5 million.
Net working capital remained at the previous
year's level despite the growth in
sales. Nor did the rise in sales push up
the figure for trade accounts receivable:
rigorous receivables management ensured
that this item actually decreased
slightly. Inventories also fell slightly
despite rising prices of raw materials,
while work in progress edged upwards
due to the large number of orders in
hand and a higher order volume.

As a consequence of the investment in
new plants in Japan and Thailand, along
with the final phase of the US press
renewal programme, investment in
property, plant and equipment showed
another small increase compared with
the prior year.
Goodwill on acquisitions accounted for
CHF 18.9 million of intangible assets,
equating to 13.5% of shareholders’
equity. In accordance with accounting
principles, there was no further amortization
of goodwill in the 2005/06 period
and no impairments were required.
Overall financial debt rose slightly, with
the share of current debt rising by CHF
22.1 million and that of long-term debt
falling by CHF 20.3 million. Leasing liabilities
declined in relation to the prior
year.
Reto Welte,
Chief Financial Officer
The Feintool Group's interest-bearing
liabilities increased slightly compared
with the prior year to CHF 162.4 million
(CHF 157.9 million). The key components
of the Group’s interest-bearing liabilities
are the convertible bond and
syndicated financing from Deutsche
Bank as part of the sale & leaseback
transaction involving the Feintool
Group’s real estate.
The Group’s long-term balance sheet
and financial position is secured by the
CHF 75 million convertible issue due in
2009 and a syndicated loan due for
repayment in 2011.
Shareholders’ equity increased by CHF
7.0 million in the year under review to
CHF 140.1 million (CHF 133.1 million).
This increase is primarily attributable to
the net income of CHF 15.6 million.
At 32.8%, the equity ratio improved
slightly compared with the previous
year's 31.8%.
Consolidated Statement
of Cash Flows
The consolidated cash flow statement
shows cash flow from operating activities
totalling CHF 38.2 million (CHF 30.8
million), an increase of CHF 7.4 million
on the prior year. Though there was a
slight reduction in the cash-effective
operating result, net working capital
showed a further fall in spite of the higher
sales.
In overall terms, a net CHF 21.7 million
(previous year: CHF 23.0 million) was
spent on investment in property, plant
and equipment in the year under review.
Investment was unchanged from the
level of the previous year owing to the
high volume of investment in replacement
and expansion in the United
States and Europe as well as to investments
at the new sites in Japan and
Thailand.
This left a free cash flow amounting
to CHF 14.4 million (CHF 8.5 million).
Most of these funds were used to
finance the dividend distribution. Total
cash and cash equivalents consequently
rose by a net CHF 9.6 million
in relation to the beginning of the year.
Reto Welte
Chief Financial Officer
15

“I get to use Swiss precision every day to ensure the quality of
American automobiles.”
Kanlayanee «Ning» Chindavanh, Press Operator, Feintool Tennessee Corp., Nashville (USA)

Key Figures – Fineblanking/Forming Segment
2005/06 2004/05 2003/04 2002/03 2001/02
Sales CHF m 319.2 304.9 268.0 246.1 242.3
Change from previous year % 4.7 13.8 8,9 +1.6 -6.9
EBITDA CHF m 37.5 34.6 26.2 25.1 26.3
Change from previous year % 8.4 32.1 4.4 -4.2 -16.6
As a percentage of sales % 11.7 11.3 9.8 10.2 10.9
Operating profit (EBIT) CHF m 25.1 24.2 14.4 14.4 14.6
Change from previous year % 3.7 68.1 0.0 -1.4 -16.8
As a percentage of sales % 7.9 7.9 5.4 5.8 6.0
Number of employees (excluding apprentices) 913 914 921 893 820
1) Changeover from Swiss GAAP ARR to IFRS.
Net sales in
CHF m
350
300
250
200
150
100
50
0
01/02
02/03
03/04
04/05
05/06
Sales by sector
Automotive 91.3% (93.3%)
Electronics/telecoms 1.7% (1.3%)
Others 7.0% (5.4%)
EBITDA
CHF m
35
30
25
20
15
10
5
0
01/02
02/03
03/04
04/05
05/06
Sales by region
Europe 49.8% (44.9%)
North America 30.2% (36.8%)
Asia and rest of world 20.0% (18.3%)
Operating profit
(EBIT) CHF m
35
30
25
20
15
10
5
0
01/02
02/03
03/04
04/05
05/06
Employees by region
Europe 54.9% (53.4%)
North America 33.7% (36.7%)
Asia and rest of world 11.4% (9.9%)
1)
17

“As a second brand after the Feintool premium brand, we’re
motivated to keep our customers happy with Schmid presses.”
René Achermann, Group Head, Mechanics Press Team, Heinrich Schmid AG, Jona (Switzerland)

Fineblanking/Forming
Segment
Different requirements
for success globally
The market environment was very mixed,
but produced an overall growth rate of
4.7% for Feintool Fineblanking/Forming.
The financial year was marked on the
one hand by somewhat reduced growth
in the USA. On the other, there were
positive impulses emanating from Japan
and the rest of Asia along with economic
growth in Europe.
Another record year for
Fineblanking/Forming
We were again able to surpass the
previous year's results in terms of both
sales and earnings. Both the Feintool
and Schmid press and systems brands
were able to maintain the previous
year's high level overall. In the components
business, the Japanese and
European plants posted further increases
in sales, while the US companies
maintained their position in a difficult
market environment.
R&D stepped up
Feintool invests on an ongoing basis
in improving the fineblanking/forming
process, in the associated tools and
presses, and in testing and acquiring
new applications. These steps are necessary
for the company to maintain its
position as a technological leader. It is
also critical to upgrade the process and
maintain its technological and economic
benefits compared with substitute
processes such as continual blanking,
sintering, forging, laser cutting and so on.
The T300 orbital press provides optimal support for
industrial production processes. This system enables
extremely demanding shaping operations to be executed
in very short time periods.
Fineblanking Technology for
success now and in the future
Our success with the HFAplus presses
continues unabated as our customers
profit from a significant boost in productivity.
Our existing customers are not the
only ones taking advantage of this
advance. This success story has also
attracted certain well-known new customers
to Feintool technology.
Presentation of a new press (the
HFAplus LT) has demonstrated that
Feintool is eager to offer its customers
additional increases in performance in
specialized application areas too. With
twice the table size, this press is capable
of handling new module concepts
for special (and future) applications in
addition to conventional tools.
Further growth in System Parts
Despite global competitive pressures
and cost increases for energy and raw
materials, System Parts was able to further
boost its results based on innovative
solutions and increased efficiency.
Strong growth was witnessed primarily
in the European business, with a 15%
increase in volume compared to the
previous year. Also worthy of mention
is the expansion in Japan (11% growth,
with a significant contribution coming
from the new plant in Tokoname near
Nagoya). In contrast, sales dropped in
the USA due to weak demand from
American automakers and problems
at some major suppliers.
SCHMiD, our second brand
The Schmid press factory can look back
at a successful financial year in terms of
incoming orders and sales. Trends in the
different sales areas varied widely from
region to region. North America weakened
while South America witnessed
very positive growth. It was also possible
to regain a firmer foothold in Europe. The
newly launched XTRA line fineblanking
press with servo drive and greatly
increased stroke counts has enjoyed
positive resonance worldwide due to
extremely high competitive pressures
among our customers.
The area of orbital presses also enjoyed
considerable success, with an additional
system for manufacturing differential
bevel wheels being put into operation.
The Feintool Automation segment was
responsible at the same time for the handling.
Larger trial orders in the area of
orbital toolmaking combined with good
utilization in orbital parts production contributed
further to the growth in this area.
19

“I use preventive maintenance to keep our fineblanking presses
up and running reliably, 24 hours a day.”
Aoki Masaru, Customer Service Presses, Feintool Japan Co., Ltd., Tokoname (Japan)

Record year for presses and systems
The record figures from the prior year
were surpassed again by a narrow margin.
A number of interesting projects
were implemented, notably for highpower
systems. Customers investing in
higher productivity were impressed by
the return-on-investment yielded by the
HFAplus line of fineblanking presses
and are replacing older models faster
than in the past.
New customers
We are especially pleased to report that
we have won over many new customers
in a number of different sectors. This
includes conventional blanking operations
seeking to extend their capabilities
to encompass fineblanking, and manufacturers
of finished products who wish
to round out their technology range with
economical fineblanking/forming. This is
in addition to companies that have been
buying in such large quantities of externally
produced fineblanking components
that they decide to evaluate in-house
production. Such trends serve to confirm
the competitiveness of this process
as well as its successful further development
by Feintool.
New HFAplus LT and XTRA 6300
The new Feintool HFAplus LT press
series was developed within a very
short time in close cooperation with
some of our key customers. It was
presented at the EuroBlech show and
Christoph Trachsler
Head of Fineblanking Technology
generated a great deal of interest. This
is due to the fact that the series offers a
worktable that has been expanded by
almost 100% to enable the use of new,
multistage module tools in addition to
existing conventional tools.
The third model in the new XTRA series
of our second brand SCHMiD – the
6300 – also enjoyed a successful market
launch.
Modular tools
With the aim of simplifying production
processes, particularly in the new HFA
LT described above, a new tool concept
has been developed based on a modular
design. This facilitates manufacture
of increasingly complex components in
a simpler and more economical manner
with improved process reliability. It
should also be possible to extend the
capabilities of fineblanking/forming to
cover new applications.
Retrofitting en vogue
Demand for used presses that have
been retrofitted by Feintool to meet the
latest mechanical, safety and control
standards is growing. Mechanical and
hydraulic presses are seeing uniform
demand from existing and new customers
who need an immediate solution
or have to find a way to overcome
capacity bottlenecks. In geographical
terms, this activity is focused in Eastern
Europe and certain Asian countries.
EuroBlech a resounding success
Under the leadership of the Fineblanking
Technology segment, the
Feintool Group made a solid appearance
at this year’s EuroBlech show.
EuroBlech is held every two years in
Hanover, Germany. The benefits of a
new press received a great deal of
attention and a new technical book on
fineblanking/forming was presented at
a press conference. The traditional
Feintool after-fair party was a popular
meeting spot for key customers from
the world over.
Feintool Beijing Office, Swisstec
Swisstec – Feintool's sales and service
company in China – enjoyed a very successful
financial year. A number of fineblanking
press projects were realized,
and the company also generated good
sales with leading products from other
Swiss and German companies such as
Baltec, Bihler, Bruderer, Hatebur, Kasto,
Mikron Agno, Osterwalder and
Weinberger.
Outlook
Fineblanking Technology began the
current financial year with a significantly
higher level of orders on hand.
Investments made during the reporting
period in state-of-the-art production
equipment will make it possible to
accommodate these challenging orders
on schedule. The high level of customer
satisfaction, interest in new products
and sustained good economic conditions
all point towards a successful
financial year in 2006/07.
While the new HFAplus LT press was the focus of
interest at the Feintool booth, the Magic Show helped
to draw many visitors into the spell of Feintool
technology.
Feintool Technologie AG Lyss, Switzerland
Feintool Italia S.r.l., Torino, Italy
Feintool France S.r.l., Bondoufle, France
Feintool UK Ltd., Reading, UK
Feintool Equipment Corp., Cincinnati, USA
Feintool Japan Co. Ltd., Atsugi und Tokoname, Japan
Feintool Beijing Office, SWISSTEC, Beijing, China
Feintool (Chongqing) Technology Co., Ltd.
Heinrich Schmid Maschinenbau AG, Jona
Schmid Corporation of America, Jackson, USA
21

“It is both an honour and a tremendous advantage to be able to
offer Swiss products in China.”
Chen Li, Sales Manager, Swisstec/Feintool Beijing Office/PR China

Continued growth
Like in previous years, sales generated
by the global activities of System Parts
grew during the financial year, advancing
by 7%. In this case, growth is due to
more than just good economic conditions
overall: intensive efforts to capture
new application areas for the fineblanking/forming
manufacturing process also
paid off. Factors driving this sustained
success include a committed employee
base, a strategy of focusing on a few
highly promising customers and applications
as well as a global presence with
effective key account management.
Despite increased costs for energy,
materials and wages that we could only
partially pass on to our customers, and
notwithstanding a sluggish US business,
we were still able to nearly maintain the
previous year’s very good earnings.
Strength in Europe
The European operations were the primary
contributors to the positive results,
with a 16% increase in sales. The
capacity of the three plants in Lyss,
Ettlingen and Jena is being exploited to
the full. Capacity bottlenecks arose to a
certain extent, resulting in higher logistics
expenditures, but this did not impair
the positive earnings.
Heinz Loosli
Head of System Parts
To enable us to meet ever increasing
demand from the automotive industry
for assembly-ready components, multiple
investments were made in the further
processing of fineblanked and
formed parts, thus boosting the value
added component.
Growth in Asia
The production capacity that was established
in Japan during the previous year
got up to full speed very quickly, meeting
a prerequisite for further growth.
This brought about a growth rate of 11%
– comparable to previous years. The
option to further expand the new site in
Tokoname serves as a basis for targeted
acquisition of new customers and
applications. In this manner, the highly
promising entry into the automotive
drive train application area was successfully
executed.
Subdued climate in the United States
After the high sales volume of the previous
year, this financial year witnessed a
slight decrease. This was due primarily
to lower sales of vans and SUVs (a
result of higher gasoline prices) combined
with problems experienced by
some of our major American customers.
Our prior investments did not see sufficient
utilization, thus impacting adversely
on our earnings. The North American
market is experiencing an upheaval like
nowhere else. Production is in many
cases being shifted to countries such as
Korea and China while the Japanese
and Europeans are continuing to expand
their production depth in the United
States and South America. By exploiting
our good market position in Japan,
Feintool expects to enjoy an increasing
market share in this attractive, growing
customer segment.
New projects
A new technology that has been patented
by Feintool attracted the attention of
the major carmakers. This technology is
useful for producing drive components
that are more cost-effective and embody
new technical characteristics.
Positive outlook
We are expecting a robust first half of
the year, though with a possible slight
slowdown to follow. In the second half
of the year, further increases in material
prices could have a negative impact.
The initiation of new series deliveries
towards the end of the year could provide
a double-digit growth impulse for
the following financial year. In view of
these positive medium-term prospects,
we are planning to expand our capacity
in both Europe and Asia.
Lining plates for brakes are fineblanked and formed
in large series runs, fitted with brake linings and
installed in disk brake systems. Here, we see a part
produced by the Feintool plant in Lyss for a system
from Continental Automotive Systems which, for
example, helps to ensure the safe functioning of
various BMW models.
Feintool System Parts AG, Lyss, Switzerland
Feintool Teile & Komponenten AG Lyss, Switzerland
Promera Ettlingen Feinschneidtechnik GmbH,
Ettlingen, Germany
Promera Jena Feinschneid- und Umformtechnik
GmbH, Jena, Germany
Feintool Cincinnati, Inc., Cincinnati, USA
Feintool New York, Inc., White Plains, USA
Feintool Tennessee, Inc., Nashville, USA
Feintool Japan Co. Ltd., Atsugi und Tokoname, Japan
23

“Here at Feintool and IMA Automation, we spearhead the costeffective
assembly of products that are renowned across the globe.”
Bastian Baumer, Project Installer, IMA Automation GmbH, Amberg (Germany)

Key Figures – Automation Segment
2005/06 2004/05 2003/04 2002/03 2001/02
Sales CHF m 111.1 110.6 109.4 98.1 115.6
Change from previous year % 0.5 1.1 11.5 -15.1 -21.9
EBITDA CHF m 10.8 8.3 4.1 3.3 5.2
Change from previous year % 30.1 102.4 24.2 -36.5 -74.0
As a percentage of sales % 9.7 7.5 3.7 3.4 4.5
Operating profit (EBIT) CHF m 8.9 6.2 0.4 -1.8 1.2
Change from previous year % 43.5 1450.0 122.2 – -92.6
As a percentage of sales % 8.0 5.6 0.4 -1.8 1,010.7
Number of employees (excluding apprentices) 470 481 478 520 531
1) Changeover from Swiss GAAP ARR to IFRS.
Net sales in
CHF m
175
150
125
100
75
50
25
0
01/02
02/03
03/04
04/05
05/06
Sales by sector
Automotive 59.8% (63.9%)
Electronics/telecoms 10.9% (15.3%)
Others 29.3% (20.8%)
EBITDA
CHF m
21
18
15
12
9
6
3
0
01/02
02/03
03/04
04/05
Sales by region
Europe 91.1% (86.0%)
North America 7.7% (9.7%)
Asia and rest of world 1.2% (4.3%)
Operating profit
(EBIT) CHF m
21
18
15
12
9
6
3
0
01/02
02/03
03/04
04/05
05/06
Employees by region
Europe 95.5% (95.2%)
North America 4.5% (4.8%)
Asia and rest of world 0% (0%)
1)
25

Segment
A successful year for
Feintool Automation
The Automation segment can look back
on a successful financial year. Despite
deteriorating market conditions, we
again managed to achieve a slight
improvement both in our sales and
earnings. We are particularly pleased
to note that all four business units contributed
to the positive result.
Automation Systems
on an upward trend
Despite slightly lower sales compared
to the previous year, it was still possible
to achieve a small increase in overall
results. The measures we undertook in
the areas of structural adaptation and
efficiency upgrades had the desired
effect.
In addition, based on projects realized
at our sites in Aarberg and Berlin, we
were able to further boost customers'
confidence in the technology and performance
of our Systems unit.
The new structure, along with additional
sales personnel, is giving the Aarberg
and Berlin sites a stronger base from
which to successfully compete in face of
ever growing challenges, particularly in
the automotive sector.
Automation Systems Aarberg built a system that
assembles imprecise cast parts along with 16
precision parts for upper, lower, left and right door
hinges. Production is fully automated and the quality
is engineered to last for the car's entire life.
26
Attractive projects
for IMA Automation
Besides our entry into the assembly
automation segment for cosmetics
applications, the past financial year was
significantly impacted by the major automotive
order we received in the area of
gearbox controls. Compared to the previous
year, we posted a slight increase
in sales and a similarly good result.
The measures we introduced to make
our fixed costs more flexible should
exert their full effects during the current
financial year. IMA will then be even better
placed to weather the persistently
challenging conditions in assembly
automation, thanks to lean structures
that complement its leading-edge products
for revolving transfer and longitudinal
transfer systems.
Automation Components unit
maintains strong momentum
The business unit's sales and revenues
met the high expectations.
We were able to further expand the
market position for the "red" modules in
both the pneumatic and electric product
lines. The products presented at the
Automatica tradeshow in Munich were
successfully launched over the course
of the financial year.
Feed technology using conventional
sheet metal and chrome steel pots is
exhibiting buoyant growth, as is the
innovative technology involving lowvibration
drives and plastic pots milled
from a single workpiece. The handling
and feed technology products are being
deployed with great success in Feintoolmanufactured
systems and also by an
increasing number of producers of
automation systems and special
machines.
A high-performance cable manufacturing system from IMA Automation is used by a well-known Swiss automotive
supplier for automatic assembly of connector/cable components designed for automotive safety applications.

Riveting systems unit still number 1
BalTec can look back on a successful
financial year due in no small part to its
extensive and efficient worldwide sales
network.
Demand for the various lines of standard
riveting machines was strong in
practically all markets. In Europe in particular,
we were able to gain market
share. In addition, BalTec is meeting the
needs of highly automated industries in
Europe with its process monitoring systems.
In the traditional product segment
involving radial riveting systems, we
were able to further expand our market
leadership. With the launch of a new
family of orbital riveting machines this
financial year, BalTec has entered into
the market for orbital technology for the
first time. Thanks to this product extension,
BalTec is the only supplier to cover
the entire field of critical riveting technologies
worldwide.
The afag section of the booth at the Motek automation
show was truly a site to behold with the innovative
feeding modules and renowned “red” handling
modules...
Norbert Müller
Head of Automation
Tradeshows and customer events:
A chance to share ideas
Besides keeping open the line of communications
with our primary customer
base, presentation of our products and
services at the major tradeshows in our
sector, Automatica München and Motek
Sinsheim, has generated some exciting
new contacts.
In addition, we used the occasion of a
number of anniversaries during this
financial year, including 15 years of
Feintool Automation Berlin, 30 years of
IMA and 50 years of Afag Huttwil in conjunction
with a successful move by
Feintool Automation Berlin to a new site
in that city, as a reason for customer
events.
Within the context of the planned
expansion of the segment's marketing
and sales activities, all of the companies
in the segment successfully exploited
tradeshows and customer events as a
marketing platform (alongside regular
publications in traditional media and
technical colloquiums).
...while the BalTec section of the booth clearly documented
that unit’s number 1 position in radial riveting
machines.
Outlook
Feintool Automation will continue to consistently
identify optimization potential
within the companies in the segment as
planned, and exploit the marketing and
cost management possibilities that
arise.
Besides standardization, this also
includes further market-oriented expansion
of the product line with innovative
components and systems in all of the
major business segments. Current market
conditions in the area of assembly
automation systems are characterized
by a high level of project queries but a
reluctance to make actual investments.
The systems companies are entering
the new financial year with a lower level
of orders on hand. The optimization
measures that have been introduced in
conjunction with the supply of project
queries allow us to project similar sales
and earnings figures for the 2006/2007
financial year.
In the Riveting Systems and
Components business segments, we
are projecting ongoing positive momentum.
In particular, the new products will
make a positive contribution to our sales
and revenue.
For the Automation segment as a
whole, we thus expect stable results for
the current financial year.
Automation Systems
Feintool Automation AG, Aarberg, Switzerland
Feintool Automation Berlin GmbH, Berlin, Germany
IMA Automation GmbH, Amberg, Germany
Automation Components
Afag AG, Huttwil, Switzerland
Afag GmbH, Amberg und Leonberg, Germany
FTA Components, Inc., Canonsburg, USA
Riveting Systems
BalTec AG, Pfäffikon, Switzerland
BalTec UK Ltd., Reading, GB
BalTec France S.r.l., Bondoufle, France
BalTec Corp., Canonsburg, USA
27

“The things that work perfectly throughout a car's life get started
right here with me in Biberist.”
Ferhat Karabas, System Operator/Fitter, Mühlemann AG, Biberist (Switzerland)

Key Figures – Plastic/Metal Components Segment
2005/06 2004/05 2003/04 2002/03 2001/02
Sales CHF m 72.9 75.2 77.3 66.5 59.8
Change from previous year % -3.1 -2.7 16.2 11.2 -6.0
EBITDA CHF m 3.1 7.1 7.0 3.7 -0.09
Change from previous year % -56.3 1.4 89.2 – -101.2
As a percentage of sales % 4.3 9.4 9.1 5.6 -0.1
Operating profit (EBIT) CHF m 0.2 3.6 3.4 0.3 -9.5
Change from previous year % -94.4 5.9 1033.3 – -464.7
As a percentage of sales % 0.3 4.8 4.4 0.5 -15.9
Number of employees (excluding apprentices) 325 372 350 331 306
1) Changeover from Swiss GAAP ARR to IFRS.
Net sales in
CHF m
70
60
50
40
30
20
10
0
01/02
02/03
03/04
04/05
05/06
Sales by sector
Automotive 89.5% (90.3%)
Electronics/telecoms 2.6% (3.0%)
Others 7.9% (6.7%)
EBITDA
CHF m
14
12
10
8
6
4
2
0
01/02
02/03
03/04
04/05
05/06
Sales by region
Europe 85.5% (85.6%)
North America 0.3% (1.0%)
Asia and rest of world 14.2% (13.4%)
Operating profit
(EBIT) in CHF m
6
4
2
0
-2
-4
-6
-8
01/02
02/03
03/04
04/05
05/06
Employees by region
Europe 93.2% (91.7%)
North America 4.3% (8.3%)
Asia and rest of world 2.5% (0%)
1)
29

Segment
A difficult business year
The Plastic/Metal Components segment
witnessed slight decreases in sales and
EBIT in a tough global market environment.
Existing orders were completed,
while call-ups from long-term orders are
declining. In addition, our efficiency and
quality improvement programs did not
yet have desired effect. Furthermore,
we were not yet able to expand our
portfolio with a sufficient number of new
orders.
Thanks to a Bosch supplier development program
involving four selected European suppliers, Mühlemann
was able to optimize changeover times.
Based on a spaghetti diagram, for example, our
internal process routes were assessed and optimized.
30
New business management
There is a certain degree of change and
upheaval in this segment. It was necessary
to restructure the segment's management
and stabilize the team in charge
at Biberist. Previous segment head
Thomas Grichting resigned for healthrelated
reasons. He was replaced at
Biberist headquarters by Bernhard
Zubler, the previous general manager at
Feintool Teile & Komponenten AG Lyss.
A successor as segment head has not
yet been appointed.
A new three-shift model was worked out
for the plant in Biberist and is expected
to increase output beginning in 2007.
Our production processes were subjected
to an optimization analysis and are
undergoing ongoing modification.
Cooperation between the individual
units and sales was also redefined and
is expected to operate in a more effective
manner.
Key customer Bosch
Together with our long-term key customer
Bosch (where Mühlemann enjoys
close business relationships with a variety
of plants in Europe), a number of
improvement programs are underway.
One important concern here involves
handling of current and future projects
in parallel in Europe, America and Asia.
In a Bosch supplier development program
involving four selected European
suppliers, Mühlemann was able to benefit
from intensive analysis and changeover-time
improvements.
The commodity price problem
The high cost of plastic granulates as
well as the burgeoning cost of precious
metals has negatively impacted our revenue.
This was compounded by the
inability to fully pass on added costs
to our customers.
When small customers make it big: Every year at
Biberist, several million pacifier disks are produced
for Lamprecht in about 50 different variants, to be
sold under the Swiss brand . The fully automated
pad printing system is outfitted with components
from Afag Huttwil.

Big changes at Biberist site
The Mühlemann Biberist headquarters
is undergoing an intensive period of
change. Partly with the help of external
consultants, our production processes
and internal communications procedures
are undergoing a thorough examination.
Consistent management of working
capital with improved customer and
inventory handling should provide
increased liquidity, thus facilitating
investment in additional optimization
processes.
To enhance both efficiency and quality, many production
processes in Biberist are now either semiautomated
or fully automated. An example is the
ultrasound welding process for a connecting part to
a strip skeleton for an alternator connector housing.
Thomas Grichting,
Head of Plastic/Metal Components
(resigned in August for health reasons)
Problems at the Nashville site
At the Nashville plant, a major order for
plastic-coated fineblanking parts was
lost for political and price-related reasons.
It unfortunately made up a large
share of the local annual sales.
Building up the Thailand site
Last May, our newly constructed plant
opened for business. Due to delays in
obtaining regional orders, the plant's
capacity is not yet fully utilized.
Site in Mexico as strategic option
The automotive industry is making sizable
investments in Mexico. Many of our
potential customers already have or are
planning assembly plants. For reasons
related to costs and logistics, there is
significant demand for local production.
We have done the groundwork in this
area to ensure that we are prepared for
opportunities that may present themselves.
Outlook
The new management team at the
Biberist headquarters under the leadership
of Bernhard Zubler will drive forward
process optimization in line with
our objectives. Through new projects
involving both existing key accounts
and new customers, we are seeking to
achieve good capacity utilization in the
medium term coupled with lower costs.
Improvements to utilization at the plants
in Tennessee and Thailand should help
to secure the future success of this segment.
Mühlemann AG, Biberist, Switzerland
Plastic/Metal Components, Inc., Nashville, USA
Feintool (Thailand) Co. Ltd., Lamphun, Thailand
31

“Our mutual success with customers is bolstered by the synergies that
exist within the Group between fineblanking and injection moulding.”
Cindy Bunkelman, Quality Engineer, Chris Haefliger, Operations Manager, Jack Stanley, New Business
Manager, Feintool System Parts and Plastic/Metal Components, Nashville (USA)

Feintool North
America
A tough North American
automotive market
In 2006 Feintool North America accomplished
much. In the area of investment
goods, many new equipment customers
have been added, while in components
manufacturing we completed several
modernization and capacity-boosting
projects. Considering the big setbacks
suffered by the U.S. auto industry and
the increased level of bankruptcies,
Feintool’s North American operation
fared reasonably well.
Despite an increase in value added per
employee, lower volumes meant there
was no improvement in the results.
Operational improvements were
achieved in all segments. The multi-year
improvement plan continues to move
forward, and we have positioned many
of our products and services for further
growth and improved profitability in
2007 and beyond.
Presses and Systems
Feintool Equipment Corporation had
another excellent year in terms of new
press sales, and installations at several
new customers were placed. Several
rebuild projects were also completed,
encompassing mechanicals, hydraulics,
electronics and controls.
The Schmid press division is dealing
with the difficult consolidation in the job
shop industry, as several customers
were either purchased or merged with
other companies. However, the latest
Xtra press technology, and the sizeable
increase in performance it promises,
has aroused great interest in the market.
We have several opportunities for
near-term sales of this equipment.
Ralph E. Hardt
Head of Feintool North America
System Parts
The press modernization plan and the
building expansion were completed on
schedule. This investment of over USD
10 million is continuing proof of Feintool’s
commitment to offering our US customers
the best solutions for competitive
processes at all times. Several new
fineblanking presses were installed in
2006, combined with compact feeding
and levelling units. In addition, the production
facilities were upgraded and
logistics improved.
At Cincinnati, new seat mechanism projects
were launched, and the quality and
on-time delivery indicators have continued
to improve. Engineering and tooling
concepts have been developed for
many new projects scheduled for 2007
and beyond, and orders for new prototypes
and tooling have been handled in
record time The focus remains on safety
and thermal, seating, and power train
applications. In addition, Feintool was
awarded three patents for new and
improved tooling technology. In Nashville,
too, new press capacity has been added,
and significant new tooling and production
programs have been launched for a
regional customer. In New York, we continue
to look at non-automotive opportunities
and have also added several new
customers. Overall Feintool is strategically
targeting global transplant customers
where Feintool has an existing
relationship and is working closely with
all its global locations to identify and
intensify key accounts. As a result, we
have shifted our sales focus and results
in 2006 towards transplant automotive
customers by more than 15%.
Plastic/Metal Components
Plastic/Metal Components added several
new and exciting projects, including a
filter housing system for gasoline management
systems. This high volume
project gives the segment a strong position
in new market territory outside of
our traditional connector business.
Given the growth throughout the NAFTA
market, several new customers have
also been added.
Feintool organized a technology symposium lasting
a number of days, which was well attended by US
clients.
Automation Systems & Components
In the Systems business, we supported
the installation of complete automation
lines produced by Feintool’s European
systems firms. A high priority was given
to market development and expansion
of customer support in both Canada and
Mexico. Feintool is working closely with
its broad representative and distributor
base to pursue automation system component
opportunities. Excellent sales
and geographical growth were achieved
in 2006.
Riveting Systems
Baltec Equipment Corporation had a
solid order rate for new riveting units
and completed several key automation
and assembly projects as well. The
focus was on higher-end product lines.
In 2007 we look forward to a new customer-driven
product offering.
Outlook
2007 will be another difficult year for the
North American automobile industry as
a whole. The domestic automotive companies
have already announced significant
production cutbacks, and inventories
remain high. This affects both component
parts production sales and
equipment investments. Many “Big
Three”-related suppliers have encountered
significant financial difficulties.
A change in vehicle platforms is taking
place, with a transition from larger SUVs
to smaller cars and trucks. This move is
primarily benefiting transplant automotive
companies. For 2007 the focus will
be on cost control, manufacturing and
administrative efficiency, and the successful
acquisition and launch of new
projects. From an equipment standpoint,
new customers and applications need to
be added to drive sustained growth.
33

“It's very exciting to work in the Feintool Technology Centre in Lyss.
You know you're on the leading edge of something important.”
Raoul Beck, Tool Designer, Feintool Technologie AG, Lyss (Switzerland)

Research &
Development
Technological leadership
equates with market success
Continued positive market achievements
combined with the innovations
presented over the past financial year
confirmed our successful realization of
the traditional Feintool approach: As an
expert technology company, we use our
capabilities to find new ways to contribute
to our customers' success.
Based on a modified organization and
the CTO's coordinating efforts within the
Group, we seek to exploit all available
resources and shorten the innovation
cycle so as to get new products to market
faster.
Innovation for the benefit
of our customers
By taking advantage of the potential
available within the Feintool Group, we
can realize interdisciplinary and functional
solutions inside the company. The
result is success stories revolving
around innovations in all of our segments.
For example, we can boast of a new
extended-table press that fulfils the
need for additional space in the work
area and facilitates the use of new tool
concepts in fineblanking/forming. This
press is well suited for applications
where new, high-performance components
and test systems are used that
are critical to everyday operations.
Another example involves the new electrical
and miniature handling modules
from Afag. These modules reflect the
open, consistent approach employed
within the Feintool Group. Based on
insights and experience gained in our
everyday operations, we can properly
understand what our customers need
and consistently deliver new solutions.
Newly developed tools for fast and
dependable feasibility analysis of
fineblanking/forming parts help our specialists
to respond to customer requests
faster and with better insight. This
makes it possible to directly communicate
queries and the relevant results
with sufficient accuracy in a much shorter
time period.
Arthur Locher
CTO and Head of Feintool R&D
External activities
Research & development projects
involving various technical universities
enjoy a special status within the
Feintool Group. By employing new starting
materials, improved techniques or in
some cases an innovative combination
of known items, we can often find new
solutions to old problems. In cooperation
with other industry partners, we
have achieved precisely this in the area
of materials and lubricants.
Expanding our internal expertise
Feintool's positive image helps us to
recruit proven researchers, experienced
engineers and talented engineering students
and keep them at our company.
Ongoing developments in presses and
tools benefit from our expanded expertise,
making it possible to implement creative
ideas in the shortest possible time.
The exchange of know-how that is facilitated
by the annual technology meeting
helps Feintool to maintain a critical
advance in its worldwide activities.
Using the latest tools
Thanks to expansion of the material
database and its incorporation into engineering
and construction processes and
also into our computational software,
Feintool has access to the latest tools.
Decades of experience are also available
to new employees, helping to
ensure that we can build optimized solutions
for our customers. With the founding
of a “virtual laboratory” based on our
proven simulation programs for fineblanking
and forming parts, we have
opened up a new chapter in our history.
Theory for use in practice
For the first time ever, Feintool invited
the most important professors in its core
business of fineblanking/forming from
Europe and China to a university colloquium
in Aachen, Germany. There, the
attendees presented proposals and
papers relating to Feintool's research &
development concept. By including professors
specialized in other fields and
from overseas, we can expand our
research & development activities in
coming years.
Outlook
Based on developments concentrated
in the area of presses and systems and
in the extended process chain, the
Feintool Group hopes to harness its
strengths to the benefit of its customers
and further exploit its available potential.
This will include stepping up cooperation
with technical universities and further
internetworking of our worldwide
technology centres. Through the use of
simulation and mathematical/physical
computational models in our virtual laboratory,
we will find ways to deploy our
practical knowledge in new applications
with greater speed and precision and at
a lower cost.
Under Feintool's leadership, a new reference work
on fineblanking/forming has been written in cooperation
with well-known partner organizations and
published by Carl Hanser Verlag. The book was
presented at the EuroBlech tradeshow in Hanover,
Germany.
35

“Working in teams is one of Feintool's strengths, both at the
management level and also in employee development.”
Caroline Joly, Executive Assistant Human Resources, Feintool International Management AG,
Lyss (Switzerland)

Human Resources
Feintool's tradition of social involvement
applies to all ages, career paths and
training levels and to both technical and
management positions. This year’s
Annual Report highlights Feintool
employees from across the world. We
would like to briefly spotlight some of
the events and concerns in Human
Resources.
A tradition of apprentice training
Feintool has always been committed to
offering competent and comprehensive
apprentice training. At any given time,
we are proud to count more than 100
young people in Switzerland, Germany
and even the United States among our
young hopefuls. Training of qualified
technical personnel safeguards our
competitiveness and thus the future
of our company and industry. Moreover,
the younger employees in our company
contribute to a more balanced age
structure and a positive corporate environment.
Many of Feintool's former
apprentices remained loyal to the company
after further training and education
and are now pillars of the company.
Some of them occupy management
positions in Europe, America and Japan.
A Swiss champion of design
At the 2006 Swiss professional championships,
one of our young employees in
Lyss, Marc Stämpfli, took the top prize
in the design engineer category. His
prize? He can drive a smart car sporting
a “Swiss Champion” logo for one year.
Until not long ago he was an apprentice
at Feintool Lyss, and he was also the
top scorer on his final examination in
the canton of Bern. Now he is waiting to
see whether he will participate in the
2007 professional championships in
Japan.
Management development program
The proven concept behind Feintool’s
management development program was
successfully continued during the reporting
year. Participants from Switzerland
and Germany were trained by both
external and internal trainers and coaches
in the areas of management, strategy,
communication and so on. An executive
program was also included at the
general management level for the first
time ever. In North America, we also
introduced an internal management
Serge Gafner
Head of Human Resources
development program. The focus there
is on the supervisor and middle manager
levels. The overall program has the
same structure as Feintool's standard
program.
Feintool Manager of the Year
We are lucky to have a large number of
competent, successful and nevertheless
modest managers at Feintool. For the
first time ever, we decided to choose a
“Feintool Manager of the Year” from
among their ranks. Manfred Graf, the
successful Head of System Parts in
Japan for many years now, was awarded
this new prize in honour of his extraordinary
dedication. He is also responsible
for the exemplary startup of our second
plant in Tokoname.
Training for future retirees
For the fourth time, Feintool held a seminar
in Switzerland about future retirement.
Twenty employees from the ten
Swiss companies took part in the event.
Under the leadership of the Pro Senectute
competence centre, they had the opportunity
to gain insights into issues such
as the importance of relationships and
partners, life phases and more. Topics
such as social security and careers
were also discussed. The head of the
Feintool Group's pension plan provided
answers to questions concerning retirement
and taxes.
A voluntary health checkup
In cooperation with various insurance
companies, a voluntary health checkup
was made available for the first time
ever at the headquarters in Lyss,
Switzerland. A total of 51 people took
advantage of this special offer involving
a 40-minute health checkup. Topics
such as blood pressure, heart rhythm,
nutrition, life balance, stress management
and fitness were all discussed.
Experts were available to answer questions
and give participants the results of
their personal checkup. Employees are
now free to undertake any measures
that were suggested as part of the
checkup.
In addition to the direct personal contact,
health-related queries were also
answered using anonymous questionnaires.
Evaluation of this data should
help the personnel department to obtain
relevant input on areas in which
employees could use additional support
related to health issues.
New salary statement for Switzerland
As required by law, a new salary statement
was launched this year for the
Swiss companies. Based on intensive
preliminary work encompassing adjustments
in the IT area and training in HR,
we are expecting a smooth start for this
program in 2007.
Human Resources management
for the future
At the 2006 Swiss professional championships,
one of our young employees in
Lyss, Marc Stämpfli, took the top prize
in the design engineer category.
To further bolster our expertise in
recruiting and personal development
both in assembly and also in Human
Resources, we are working on the
implementation of an integral HR concept.
The objective here is to build up
such expertise on a sustained basis and
establish strategic human resources
management as part of our everyday
management efforts.
At the 2006 Swiss professional championships, one
of our young employees in Lyss, Marc Stämpfli, took
the top prize in the design engineer category.
37

“I am proud to work in this new Feintool plant.”
Preecha Kaewjai, Machine Operator, Feintool (Thailand) Co., Ltd., Lamphun (Thailand)

Environment and Recycling
We all need to protect
the environment
Feintool has always placed a great deal
of emphasis on environmental issues.
Nowadays, this feels like second nature
to our employees. Feintool seeks to
monitor and regulate its activities in all
of the applicable areas.
Conservation of resources
As Feintool technologies continue to
advance, we are making progress in
achieving savings both in the development
of more lightweight and multi-functional
components and in the consumption
of raw materials. Through close
cooperation with steel manufacturers
and our customers' engineers, we are
able to optimize the finished products
we produce while minimizing consumption.
Feedback to the production cycle
At Feintool, there is an everyday focus
on sustainable and consistent disposal
of waste materials. As part of the production
cycle in the automotive industry,
recycling of metals and plastics is strictly
regulated at an international level. At
the start of series production, data on all
materials along with the chemical composition
of parts and components is fed
into the international material data system
(IMDS).
In early 2006, Feintool successfully passed an audit
in accordance with ISO 14001:2004 for the two production
facilities at Lyss, Switzerland
Safety for employees and
protection for the environment
Within its plants and production processes,
Feintool focused on protecting the
environment even prior to environmental
certification. Employee safety is also a
major concern, with strict rules applying
to the handling of hazardous materials.
Chlorine-free fineblanking
In close corporation with petroleum suppliers,
Feintool has worked for years to
develop fineblanking lubricants that are
capable of supporting the widest possible
range of applications without the use
of chlorine. Our objective is to continue
extending the fineblanking/forming
process to make it more comprehensive
and economical.
Certifications
As part of the first phase of its mediumterm
environmental concept, Feintool
has subjected its operations at the site
in Lyss, Switzerland, to a stringent environmental
audit. The detailed specifications
for this audit were incorporated as
an integral component into the management
system. Under the leadership of
management system supervisor Hans
Gertsch and thanks in no small part to
the commitment of his co-workers, certification
to ISO 14001:2004 was achieved.
Additional sites should follow in succession.
Outlook
The production processes used in our
technologies and in our production
plants will be examined and modified on
the basis of the relevant ecological
aspects in all phases. Thanks to ongoing
improvements, we can reduce our
consumption of resources and thus minimize
pollution and waste. We also
operate a preventive safety organization
with the aim of maximizing protection for
both our employees and the environment.
39

Europe
United States
Asia
40
Group Structure and Global Presence
Feintool Technology
& Systems
Feintool Technologie
Lyss/CH
Feintool Italia
Torino/IT
Feintool France
Paris/FR
Feintool UK
Reading/GB
Feintool Equipment
Cincinnati/USA
Feintool Japan
(Equipment)
Atsugi/Tokoname/JP
Feintool/Swisstec
Beijing/CN
Feintool (Chongqing)
Technology Co., Ltd.
Schmid
Presses
Schmid Jona/CH
Schmid
Jackson/USA
Technology centers
Production and distribution subsidiaries
Agencies
Feintool International Holding, Lyss/CH
Feintool International Management, Lyss/CH
Feintool System Parts
Lyss/CH
Feintool Teile & Komponenten
Lyss/CH
Promera Ettlingen
Ettlingen/DE
Promera Jena
Jena/DE
Feintool Cincinnati
Cincinnati/USA
Feintool New York
White Plains/USA
Feintool Tennessee
Nashville/USA
Feintool Japan
(System Parts)
Atsugi/Tokoname/JP
Automation
Systems
Feintool
Automation
Aarberg/CH
Feintool
Automation
Berlin/DE
IMA
Automation
Amberg/DE
Global presence, local customer service
Automation
Components
Afag
Huttwil/CH
Afag
Amberg/DE
Afag
Leonberg/DE
FTA
Components
Canonsburg
USA
Feintool Fineblanking Technology
Feintool System Parts
Fastening
Systems
BalTec
Pfäffikon/CH
BalTec
Uhingen/DE
BalTec UK
Reading/GB
BalTec France
Bondoufle/FR
BalTec
Canonsburg
USA
Mühlemann
Biberist/CH
Plastic/Metal Components
Nashville/USA
Feintool (Thailand) Co. Ltd.
Lamphun/Thailand
Feintool Automation
Feintool Plastic/Metal Components

Publisher
Produced by
Photos by
Printed by
English version:
Imprint
Feintool International Holding
Feintool Corporate Communications
Photography, Fräschels
Gassmann AG, Biel
bmp translations ag, Basel

Switzerland
Europe
America
Asia
Addresses of our operating companies
Feintool International Holding Industriering 8 Tel +41 (0)32 387 51 11 feintool-fim@feintool.com
CH-3250 Lyss Fax +41 (0)32 387 57 81 www.feintool.com
Feintool International Management AG Industriering 8 Tel +41 (0)32 387 51 11 feintool-fim@feintool.com
CH-3250 Lyss Fax +41 (0)32 387 57 81 www.feintool.com
Feintool Technologie AG Lyss Industriering 3 Tel +41 (0)32 387 51 11 feintool-ftl@feintool.com
CH-3250 Lyss Fax +41 (0)32 387 57 83 www.feintool.com
Heinrich Schmid Maschinenbau AG Grünfeldstrasse 25 Tel +41 (0)55 225 21 11 sales@schmidpress.com
CH-8645 Jona Fax +41 (0)55 225 24 04 www.schmidpress.com
Feintool System Parts AG Industriering 8 Tel +41 (0)32 387 51 11 feintool-fsp@feintool.com
CH-3250 Lyss Fax +41 (0)32 387 57 82 www.feintool.com
Feintool Teile & Komponenten AG Lyss Industriering 53 Tel +41 (0)32 387 51 11 feintool-tkl@feintool.com
CH-3250 Lyss Fax +41 (0)32 387 57 79 www.feintool.com
Feintool Automation AG Alte-Lyss-Strasse 2 Tel +41 (0)32 391 98 00 sales@feintool-aarberg.ch
CH-3270 Aarberg Fax +41 (0)32 392 36 71 www.feintool.com
Afag AG Fiechtenstrasse 32 Tel +41 (0)62 959 86 86 sales@afag.com
CH-4950 Huttwil Fax +41 (0)62 959 87 87 www.afag.com
BalTec Maschinenbau AG Obermattstrasse 65 Tel +41 (0)1 953 13 33 baltec@baltec.com
CH-8330 Pfäffikon ZH Fax +41 (0)1 953 13 44 www.baltec.com
Mühlemann AG Burgunderstrasse 13 Tel +41 (0)32 671 18 18 info@muehlemann.ch
CH-4562 Biberist Fax +41 (0)32 671 18 28 www.feintool.com
Feintool France S.à.r.l. 11, rue Gustave Madiot, ZA les Bordes Tel +33 (0)1 69 47 12 00 feintool-ftl@feintool.com
FR-91070 Bondoufle Fax +33 (0)1 69 47 13 49 www.feintool.com
Feintool UK, Limited Baltec House, Danehill, Lower Early Tel +44 1189 31 32 95 feintool-ftl@feintool.com
GB-Reading RG6 4UT Fax +44 1189 31 33 70 www.feintool.com
Feintool Italia S.r.l. Corso Galileo Ferrarsi 26 Tel +39 011 53 98 09 feintool-ftl@feintool.com
IT-10121 Torino Fax +39 011 53 96 75 www.feintool.com
Promera Ettlingen Feinschneidtechnik GmbH Englerstrasse 18 Tel +49 7243 320 20 info@promera.de
DE-76275 Ettlingen Fax +49 7243 320 240 www.feintool.com
Promera Jena Feinschneid- und Löbstedter Strasse 85 Tel +49 3641 506 100 info@promera-jena.de
Umformtechnik GmbH DE-07745 Jena 9 Fax +49 3641 506 300 www.feintool.com
IMA Automation GmbH Wernher-von-Braun-Str. 5 Tel +49 (0)9621 608-0 ima@ima-automation.de
DE-92224 Amberg Fax +49 (0)9621 608-290 www.feintool.com
Feintool Automation Berlin GmbH Landsberger Strasse 252 Tel +49 (0)3098 307 211 sales@feintool-berlin.de
DE-12 623 Berlin Fax +49 (0)3098 307 220 www.feintool.com
Afag GmbH Wernher-von-Braun-Str. 5a Tel +49 (0)9621 650 270 sales@afag.com
DE-92224 Amberg Fax +49 (0)9621 650 27390 www.afag.com
Afag GmbH Hertichstrasse 70 Tel +49 (0)715 260 080 sales@afag.com
DE-71229 Leonberg Fax +49 (0)715 260 0810 www.afag.com
BalTec Maschinenbau AG Stuttgarter Strasse 163 Tel +49 (0)7161 361 300 post@baltec-mb.de
Niederlassung Uhingen DE-73066 Uhingen Fax +49 (0)7161 361 301 www.baltec.com
BalTec France 11, rue Gustave Madiot, ZA les Bordes Tel +33 (0)1 69 47 12 00 info@baltec.fr
FR-91070 Bondoufle Fax +33 (0)1 69 47 13 49 www.baltec.fr
BalTec UK, Limited Baltec House, Danehill, Lower Early Tel +44 1189 31 11 91 sales@baltecuk.com/home
GB-Reading, RG6 4UT Fax +44 1189 31 11 03 www.baltecuk.com
Feintool Equipment Corp. 6833 Creek Road Tel +1 513 791 00 66 fec@feintool-usa.com
US-Cincinnati, OH 45242 Fax +1 513 791 15 89 www.feintool.com
Schmid Corporation of America Michigan Office, 1515-B Horton Road Tel +1 517 768 9669 schmidcorp@sbcglobal.net
US-Jackson, Michigan 49203 Fax +1 517 768 7659 www.schmidpress.com
Feintool Cincinnati, Inc. 11280 Cornell Park Drive Tel +1 513 247 40 61 sales@feintool-usa.com
US-Cincinnati, OH 45242 Fax +1 513 247 00 60 www.feintool.com
Feintool New York, Inc. One Holland Avenue Tel +1 914 761 25 00 sales@feintool-usa.com
US-White Plains, NY 10603 Fax +1 914 761 23 59 www.feintool.com
Feintool Tennessee, Inc. 2930 Old Franklin Road Tel +1 615 641 77 70 sales@feintool-usa.com
US-Antioch, TN 37013 Fax +1 615 641 79 95 www.feintool.com
BalTec Corp. 130 Technology Drive Tel +1 724 873 57 57 crupprecht@baltecusa.net
US-Canonsburg, PA 15317 Fax +1 724 873 58 58 www.balteccorporation.com
FTA Components, Inc. 130 Technology Drive Tel +1 724-873-1801 info@uc-usa.com
US-Canonsburg, PA 15317 Fax +1 724-873-5858 www.afag.com
Feintool Plastic/Metal Components, Inc. 2930 Old Franklin Road Tel +1 615 501 94 90 sales@feintool-usa.com
US-Nashville, TN 37013 Fax +1 615 501 94 91 www.feintool.com
Feintool Japan Co., Ltd. 260-53, Yanagi-Machi Hase Tel +81 46 247 74 51-2 feintool@feintool.co.jp
JP-Atsugi City, Kanagawa Pref. 243 Fax +81 46 247 20 08 www.feintool.com
Feintool (Thailand) Co. Ltd. Northern Region Industrieal Estate
179 Moo4 Tamboon Ban Klang, info.fth@feintool.com
Amphur Muang Tel +66 (0)53 581 750 www.feintool.com
Lamphun 51000 Thailand Fax +66 (0)33 581 759
Feintool Beijing Office, Swisstec Hua Qiao Gong Yu 2-43
Hua Yuan Cun, Xi Jiao Tel +86 10 6841 84 47 swisstec@public.bta.net.cn
CN-Beijing 100044 Fax +86 10 6841 28 69 www.feintool.com
Feintool (Chongqing) Technology Co., Ltd. Room 1210, Metropolitan Tower
No. 68 Zou Rong Road, Yu Zhong District Tel +86 23 6374 1773 swisstec@public.cta.cq.cn
Chongqing, 400010, P.R.C. Fax +86 23 6374 1775 www.swisstec.com

Feintool International Holding
Investor Relations
Industriering 8, CH-3250 Lyss
Phone +41 (0)32 387 55 99
Fax +41 (0)32 387 57 81
investor.relations@feintool.com
www.feintool.com
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