Feintool sells Afag to Schaeff Group
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Feintool International Holding AG /
Feintool sells Afag to Schaeff Group
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German entrepreneurs Alexander and Karl Schaeff are taking over handling and
feeding technology supplier Afag from Feintool International Holding AG. The
entrepreneurial strategy of the purchaser will provide the ideal platform for
Afag to further expand its leading position. All 150 Afag employees will be
retained by the new owner.
On 21 June 2011, the Germany-based Schaeff Group signed an agreement with
Feintool International Holding AG for the Afag takeover. Afag has developed and
manufactured assembly components and feeding solutions for more than 50 years,
and has emerged as one of the leading global suppliers in this area. The company
has a total of 150 employees (including 10 trainees) spread between its own
production and sales companies in Huttwil (Switzerland), Amberg and Leonberg
(both Germany). It is now active in 20 countries around the world through a
network of approved distribution partners.
"We are convinced that our entrepreneurial philosophy and businesses ties will
enable us to expand Afag's operations into new fields.We believe in the growth
of Afag, and as its new owners we will drive forward the development of the
company together with its employees" comments Alexander Schaeff, the proprietor
of Schaeff Group.
"The sale of Afag will enable us to focus more closely on our core competencies
in the area of series parts production and investment goods - in other words, on
fineblanking and automation technology solutions. We see no potential for
expanding handling and feeding technology operations in the areas covered by our
other businesses. We are certain that Afag will benefit from excellent
development opportunities under its new owners, particularly given their
industry relationships," explains Heinz Loosli, CEO of Feintool Group.
Adjusted guidance for the Feintool Group
As a result of the sale of Afag, Feintool has adjusted its sales forecast for
continuing operations in the 2010/11 financial year to CHF 360-375 million, with
EBIT of CHF 10-14 million. The repercussions of the crisis in Japan are not yet
definitively quantifiable.
Afag
Afag is a leading manufacturer of high-quality pneumatic and electric handling
components and complete feeding stations for assembly automation. In addition,
the company supplies a wide range of components for feeding technology.
Significant drivers of Afag's success include more than 50 years' experience and
the application of state-of-the-art technologies, as well as outstanding client
proximity. Today the company ranks among the leading global suppliers in the
market. Afag's client base encompasses growing industries such as solar, pharma,
and medical technology, as well as traditional sectors such as automotive,
electrical engineering, food and consumer goods.
www.afag.com
Schaeff Group
The Schaeff family and its corporate group focuses on the strategic management
of high-technology companies, mainly from the manufacturing industry.All Group
companies have the same aim - namely, technology leadership in the corresponding
market. In the area of automation in particular, Schaeff Group has longstanding
experience as well as a number of further holding interests with synergy
potential. This makes the acquisition of Afag look particularly promising.
www.schaeff-beteiligungs-holding.com
For more information, please contact Karin Labhart, Media Spokesperson, at any
time by calling +41 (0)32 387 51 63 or e-mailing karin.labhart(at)feintool.com.
Feintool International Holding AG
Industriering 8, CH-3250 Lyss
Phone +41 (0)32 387 51 11
Fax +41 (0)32 387 57 81
feintool-fim(at)feintool.com
www.feintool.com
The press release can be downloaded from the following link:
--- End of Message ---
Feintool International Holding AG
Industriering 8 Lyss Schweiz
ISIN: CH0009320091;
Press Release (PDF):
http://hugin.info/100443/R/1524969/460686.pdf
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Source: Feintool International Holding AG via Thomson Reuters ONE
[HUG#1524969]
Unternehmensinformation / Kurzprofil:
Datum: 22.06.2011 - 07:01 Uhr
Sprache: Deutsch
News-ID 55746
Anzahl Zeichen: 5135
contact information:
Town:
Lyss
Kategorie:
Business News
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