The Board of Directors of Feintool International Holding has decided to make further improvements to the company structure in order to further expand its market positions. Thus, the Automation segment is to be restructured to enable it to address future global market demands. Head of Segment Norbert Müller will be leaving the company as of 31 October 2008, and so CEO Joachim Kaufmann will take control of this segment on an interim basis.
The structure of the Automation segment, with its three business units Automation Systems (Feintool Automation in Aarberg und Berlin, IMA Automation in Amberg), Automation Components (Afag Automation in Huttwil and Amberg) and Fastening Systems (BalTec in Pfäffikon), is to be reorganized to improve efficiency. The aim is to further expand the company's market position both in Europe and globally. Automation is the Group's strongest segment after Fineblanking/Forming in terms of both sales and earnings, and capacity utilization at plants in Switzerland and Germany is currently at very high levels.
In connection with the planned changes to Feintool Automation, Head of Segment Norbert Müller will be leaving the company after around 4 years' service by mutual agreement on 31 October 2008. CEO Joachim Kaufmann will become interim head of the business unit in a dual function as of 24 April 2008. The planned improvements in this segment will be drafted and implemented in cooperation with key employees. More information on the optimization process and its implementation will be available once they have been ratified by Group Management and the Board of Directors.
For further information, please contact:
Joachim Kaufmann, CEO, phone +41 (0)32 387 51 11
Feintool is a leading technology and systems provider in fineblanking/forming and assembly automation. It is also a global supplier of metal and plastic components.
Feintool operates globally at the company's own facilities in Switzerland (head office in Lyss), Germany, France, Italy, Great Britain, the United States, Japan and China, where around 1900 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
Mobile +41 (0)79 204 41 13
The media release can be downloaded from the following link:
