Ad-hoc Media release: Feintool increases its capital by 6 million Swiss Francs for the definitive acquisition of Herzing+Schroth
(Thomson Reuters ONE) -
Feintool International Holding AG /
Ad-hoc Media release: Feintool increases its capital by 6 million Swiss Francs
for the definitive acquisition of 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 position in the market for
sophisticated fineblanking and forming technology by acquiring the German group
Herzing+Schroth. Metal forming specialists Herzing+Schroth will enable Feintool
to further increase the technological potential with related process. The
industrial Group is increasing its Equity by CHF 6 million to partially finance
the acquisition.
On 31 May 2012, Feintool finalized its purchase of Herzing+Schroth.The two
companies can now jointly develop their strengths in the market.For Feintool,
this is the next logical step in the group's strategy of concentrating on
fineblanking and forming technology, which has been implemented 3 years ago.
Commenting on the completion of the purchase deal, Alexander von Witzleben,
Feintool's Chairman of the Board of Directors, said, "Our objective is to
further expand our global and technological standing in our markets. We are
especially pleased with the positive response we received from everyone after
announcing the acquisition."
Equity rises by CHF 6 million
Feintool International Holding AG is increasing its share capital to finance a
portion of the purchase price.The Board of Directors has agreed on partial
implementation of the authorized capital increase approved on 24 January
2012:17,150 registered shares are being issued at an issue price of CHF 350 per
share.As a result, Feintool Group's Equity is increasing by CHF 6 million.The
capital increase will be entered in the Commercial Register on 1 June 2012, and
the new shares will be listed on the Swiss Stock Exchange as of 4 June
2012."For us, it is very important to achieve a stable funding process for
Feintool, even during times of substantial growth.So we are pleased to welcome
our new Board member, Steffen Schroth, as a significant shareholder.This
reflects the trust that Mr. Schroth has placed in Feintool Group," said
Alexander von Witzleben.
Adjusted guidance with a positive outlook
As of 1 June 2012, Feintool will integrate Herzing+Schroth's sales and earnings
into the consolidated results.The guidance is being adjusted owing to the
effects of this acquisition.For the 2012 calendar year, we anticipate
consolidated sales of CHF 400-450 m and an EBIT margin of between 4 and 6%.
For more information, please contact Karin Labhart, Media Spokesperson, at any
time by calling +41 32 387 51 63 or e-mailing karin.labhart(at)feintool.com.
Feintool International Holding AG
Industriering 8
3250 Lyss
Switzerland
Phone +41 32 387 51 11
www.feintool.com
Media spokesperson
Karin Labhart
Phone +41 32 387 51 63
Mobile +41 79 609 22 02
karin.labhart(at)feintool.com
The press release can be downloaded from the following link:
Press Release (PDF):
http://hugin.info/100443/R/1615674/515117.pdf
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Source: Feintool International Holding AG via Thomson Reuters ONE
[HUG#1615674]
Unternehmensinformation / Kurzprofil:
Datum: 01.06.2012 - 07:01 Uhr
Sprache: Deutsch
News-ID 152104
Anzahl Zeichen: 4036
contact information:
Town:
Lyss
Kategorie:
Business News
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