In the first nine months of the 2005/06 financial year, the Lyss-based Feintool Group - a leading technology and systems provider and a globally operating components supplier - bettered its year-ago record sales figure by a further 4.1%, bringing the consolidated total to CHF 373.6 million. Incoming orders and orders in hand are at a high level. Thanks to a number of interesting projects, moreover, the Group is headed for further growth.
Third-quarter sales were in line with the very high figure recorded a year ago. In the technology and plant engineering business, the upward trend is continuing. In the third quarter, Feintool completed a number of major projects for both new and existing customers in the investment goods fineblanking/forming and automation fields. For example, it supplied several latest-generation press packages, accounting for some 40% of revenues in this particular business segment. It was thus also able to add various new applications, not only in the automotive sector but in a number of other industries as well (e.g. cosmetics packaging).
The parts & components manufacturing segment saw further growth in fineblanking/forming in Europe and Japan. Despite the harsh environment in America, attractive new contracts were landed here too. These successes can be attributed to proactive marketing and to specialization in complex application fields, such as seat-adjusters in Japan and automatic gearboxes in Europe and the USA. Feintool signed a long-term contract with one leading car maker to deliver key components for a future generation of gearboxes. This alone will generate annual sales of over CHF 20 million.
The Plastic/Metal Components business experienced a further worsening of competitive pressure, especially in Europe. Development of the new operation in Thailand continues to make good progress. Thanks to a strategic cooperation agreement with a leading chip manufacturer, Feintool has gained another new customer for this site - plus another promising application.
Bright outlook for the full period and for next year
Given its high order intake and sound order books, Feintool's management is confident that the results for the current fiscal year ending 30 September will exceed the prior-year figures in terms of both sales and earnings. Moreover, the major new projects already implemented provide a solid basis for the subsequent financial year, allowing the Group to continue on its sustainable growth trajectory.
For further information, please contact:
Reto Welte, CFO, phone +41 (0)32 387 51 11
Feintool is a leading technology and systems provider in fineblanking/forming and automation. It is also a global supplier of metal and plastic components.
Feintool operates throughout the world at the company's own facilities in Switzerland (head office in Lyss), Germany, France, Italy, Great Britain, the United States, Japan, China and Thailand, where around 1800 employees are committed to customer satisfaction.
Feintool International Holding
Industriering 8, CH-3250 Lyss
Phone +41 (0)32 387 51 11
Fax +41 (0)32 387 57 81
Corporate Communications
Urs Feitknecht
Phone +41 (0)32 387 51 63
Fax +41 (0)32 387 54 16
The media release can be downloaded from the following link:
