Feintool acquires the metal forming technology company Herzing+Schroth
(Thomson Reuters ONE) -
Feintool International Holding AG /
Feintool acquires the metal forming technology company Herzing+Schroth
. Processed and transmitted by Thomson Reuters ONE.
The issuer is solely responsible for the content of this announcement.
Feintool has significantly strengthened its market position for sophisticated
fineblanking and forming technology with the acquisition of Herzing+Schroth.
This German group specializes in chipless forming - a process which, like
fineblanking, is used for the high-volume production of lightweight components
for efficient gearboxes. Feintool plans to globally expand this new
technological potential.
The purchase agreement for the acquisition was signed March 14, 2012 and will
take effect following approval by the German antitrust authority. All 499
employees and 27 trainees of the companies Herzing+Schroth GmbH u. Co. KG in
Obertshausen (Hessen) and Schroth Antriebselemente GmbH in Ohrdruf (Thuringia)
will transfer to Feintool. Herzing+Schroth recently posted sales of
approximately ?70 million.
Chairman of Feintool's Board of Directors
Alexander von Witzleben comments on the acquisition
"Our objective is to further expand our global and technological standing. To
this end, we're focusing on our position in the market for sophisticated
fineblanking and forming technology. We are particularly pleased to have found
in Herzing+Schroth, a company that is an excellent strategic fit. Its technical
expertise will significantly advance Feintool's forming capabilities, a process
closely related to fineblanking as well as boosting the company's geographical
market development in the U.S. and Asia. For Feintool, this is the next logical
step in the strategy we have been pursuing over the past three years."
Steffen Schroth, Managing Director and sole shareholder
of Herzing+Schroth comments on the sale
"Integrating my company into the Feintool Group helps to secure
Herzing+Schroth's long-term future against the background of an increasingly
demanding market, the globalization of our industry, and the need to finance
growth. I will retain and maintain my entrepreneurial interests in Helica
Fördertechnik GmbH as well as in the operating sites at the Obertshausen
location."
Global trends favor high-volume, complex forming
In order to decrease CO2 emissions by reducing fuel consumption, the automotive
industry relies on increased efficiency and lower vehicle weight. This includes
efficient drivetrains, current examples of which include automatic and dual-
clutch transmissions. In the place of heavy cast and forged parts, these
transmissions increasingly use lightweight components - which, however, entail
highly complex machining tasks. At the same time, high volumes are being
targeted by the components industry to reduce costs. These challenges will
enable the new group to profit significantly worldwide in the coming years,
bolstered by its combined fineblanking and chipless forming expertise.
Adjusted financial reports after acquisition completion
On a pro forma basis, it is estimated that the Feintool Group will achieve sales
of CHF 430-480 million with an EBIT margin of 4 to 6 percent for the entire
2012 fiscal year. Feintool will issue adjusted financial reports for the current
fiscal year following completion of the acquisition towards the end of the
second quarter.
About Feintool Group
As world market leader in fineblanking technology, Feintool is the only global
supplier to offer its customers the entire process of fineblanking - from
engineering through the production of machines featuring state-of-the-art press
technology, plus tool design and the mass production of fineblanked components.
Besides its core technology of fineblanking/forming, Feintool also offers
reliable assembly equipment with its IMA brand. Headquartered in Lyss,
Switzerland and with sites in the world's four largest automotive markets, the
company employs over 1,300 staff worldwide. In addition, Feintool offers over
70 trainees a step up into the working world, with apprenticeships mainly for
general mechanics, design engineers and commercial staff.
About HERZING+SCHROTH
HERZING+SCHROTH (H+S) is a leading developer and manufacturer of high-precision,
chipless-formed components of motor vehicle drivetrains. In addition to its core
chipless-forming technology, the company boasts considerable expertise in many
other areas of machining technology. H+S provides its customers with support
throughout the whole product lifecycle - from the very first prototypes to tool
manufacture and onward through series production. In addition to HERZING+SCHROTH
at the Obertshausen location (Hessen), SCHROTH Antriebselemente GmbH in Ohrdruf
(Thuringia) with 499 employees, including 27 trainees, also belongs to this
medium-sized, owner-managed company.
For more information, please contact Media Spokesperson Karin Labhart any time
by calling +41 32 387 51 63 or e-mailing karin.labhart(at)feintool.com
Feintool International Holding AG
Industriering 8, CH-3250 Lyss
Phone +41 32 387 51 11
Fax +41 32 387 57 81
feintool-fim(at)feintool.com
www.feintool.com
The press release can be downloaded from the following link:
Press Release (PDF):
http://hugin.info/100443/R/1593747/501569.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Feintool International Holding AG via Thomson Reuters ONE
[HUG#1593747]
Unternehmensinformation / Kurzprofil:
Datum: 14.03.2012 - 19:00 Uhr
Sprache: Deutsch
News-ID 124928
Anzahl Zeichen: 6652
contact information:
Town:
Lyss
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 255 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Feintool acquires the metal forming technology company Herzing+Schroth"
steht unter der journalistisch-redaktionellen Verantwortung von
Feintool International Holding AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
