Press Release - Feintool
Press Release - Feintool
Press Release - Feintool
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<strong>Press</strong> <strong>Release</strong><br />
14 March 2012 – 7:00 p.m.<br />
Ad-hoc release:<br />
<strong>Feintool</strong> acquires the metal forming technology<br />
company Herzing+Schroth<br />
<strong>Feintool</strong> International Holding AG<br />
Industriering 8, CH-3250 Lyss<br />
Phone +41 32 387 51 11<br />
Fax +41 32 387 57 81<br />
feintool-fim@feintool.com<br />
www.feintool.com<br />
Media spokesperson<br />
Karin Labhart<br />
Phone +41 32 387 51 63<br />
Fax +41 32 387 54 16<br />
Mobile +41 79 609 22 02<br />
karin.labhart@feintool.com<br />
<strong>Feintool</strong> has significantly strengthened its market position for sophisticated<br />
fineblanking and forming technology with the acquisition of Herzing+Schroth. This<br />
German group specializes in chipless forming – a process which, like fineblanking,<br />
is used for the high-volume production of lightweight components for efficient<br />
gearboxes. <strong>Feintool</strong> plans to globally expand this new technological potential.<br />
The purchase agreement for the acquisition was signed March 14, 2012 and will take<br />
effect following approval by the German antitrust authority. All 499 employees and 27<br />
trainees of the companies Herzing+Schroth GmbH u. Co. KG in Obertshausen (Hessen)<br />
and Schroth Antriebselemente GmbH in Ohrdruf (Thuringia) will transfer to <strong>Feintool</strong>.<br />
Herzing+Schroth recently posted sales of approximately €70 million.<br />
Chairman of <strong>Feintool</strong>’s Board of Directors<br />
Alexander von Witzleben comments on the acquisition<br />
“Our objective is to further expand our global and technological standing. To this end,<br />
we’re focusing on our position in the market for sophisticated fineblanking and forming<br />
technology. We are particularly pleased to have found in Herzing+Schroth, a company<br />
that is an excellent strategic fit. Its technical expertise will significantly advance <strong>Feintool</strong>’s<br />
forming capabilities, a process closely related to fineblanking as well as boosting the<br />
company’s geographical market development in the U.S. and Asia. For <strong>Feintool</strong>, this is<br />
the next logical step in the strategy we have been pursuing over the past three years.”<br />
Steffen Schroth, Managing Director and sole shareholder<br />
of Herzing+Schroth comments on the sale<br />
“Integrating my company into the <strong>Feintool</strong> Group helps to secure Herzing+Schroth's longterm<br />
future against the background of an increasingly demanding market, the<br />
globalization of our industry, and the need to finance growth. I will retain and maintain my<br />
entrepreneurial interests in Helica Fördertechnik GmbH as well as in the operating sites<br />
at the Obertshausen location.”
Global trends favor high-volume, complex forming<br />
In order to decrease CO2 emissions by reducing fuel consumption, the automotive<br />
industry relies on increased efficiency and lower vehicle weight. This includes efficient<br />
drivetrains, current examples of which include automatic and dual-clutch transmissions.<br />
In the place of heavy cast and forged parts, these transmissions increasingly use<br />
lightweight components – which, however, entail highly complex machining tasks. At the<br />
same time, high volumes are being targeted by the components industry to reduce costs.<br />
These challenges will enable the new group to profit significantly worldwide in the coming<br />
years, bolstered by its combined fineblanking and chipless forming expertise.<br />
Adjusted financial reports after acquisition completion<br />
On a pro forma basis, it is estimated that the <strong>Feintool</strong> Group will achieve sales of CHF<br />
430-480 million with an EBIT margin of 4 to 6 percent for the entire 2012 fiscal year.<br />
<strong>Feintool</strong> will issue adjusted financial reports for the current fiscal year following<br />
completion of the acquisition towards the end of the second quarter.<br />
About <strong>Feintool</strong> Group<br />
As world market leader in fineblanking technology, <strong>Feintool</strong> is the only global supplier to<br />
offer its customers the entire process of fineblanking – from engineering through the<br />
production of machines featuring state-of-the-art press technology, plus tool design and<br />
the mass production of fineblanked components. Besides its core technology of<br />
fineblanking/forming, <strong>Feintool</strong> also offers reliable assembly equipment with its IMA brand.<br />
Headquartered in Lyss, Switzerland and with sites in the world’s four largest automotive<br />
markets, the company employs over 1,300 staff worldwide. In addition, <strong>Feintool</strong> offers<br />
over 70 trainees a step up into the working world, with apprenticeships mainly for general<br />
mechanics, design engineers and commercial staff.<br />
About HERZING+SCHROTH<br />
HERZING+SCHROTH (H+S) is a leading developer and manufacturer of high-precision,<br />
chipless-formed components of motor vehicle drivetrains. In addition to its core chiplessforming<br />
technology, the company boasts considerable expertise in many other areas of<br />
machining technology. H+S provides its customers with support throughout the whole<br />
product lifecycle – from the very first prototypes to tool manufacture and onward through<br />
series production. In addition to HERZING+SCHROTH at the Obertshausen location<br />
(Hessen), SCHROTH Antriebselemente GmbH in Ohrdruf (Thuringia) with 499<br />
employees, including 27 trainees, also belongs to this medium-sized, owner-managed<br />
company.<br />
For more information, please contact Media Spokesperson Karin Labhart any time by<br />
calling +41 32 387 51 63 or e-mailing karin.labhart@feintool.com