Feintool has increased the loan agreement with its six principal banks in Switzerland and Germany. The contract, signed on June 29, runs until summer 2023 and ensures operational flexibility in a challenging environment.
CEO Knut Zimmer on the positive conclusion of the contract: “The consequences of the Covid-19 pandemic with several weeks of plant shutdowns at our most important customers have a significant impact on our business, to which we are responding with cost adjustments, among others. By signing this contract, we provide for the coming period and secure ourselves financially. We are convinced that with these measures we have laid the base in all regions to quickly and flexibly exploit opportunities arising from the successive recovery.”
Feintool in brief
Feintool is an internationally active technology and market leader in the field of fineblanking This technology is distinguished by cost-effectiveness, quality and productivity.
As an innovation driver, Feintool consistently pushes the boundaries of fineblanking and develops smart solutions for its customers’ ideas with two possibilities: On the one hand, our fineblanking systems and innovative tools and, on the other hand, the complete production of precise fineblanking and formed components in high volumes for demanding industrial applications.
Feintool covers the entire process chain. The processes used by Feintool support the trends in the automobile industry. Thus, Feintool is a project and development partner in the field of lightweight construction, different module types, and alternative drive concepts, such as hybrid and electric.
The company founded in 1959 and headquartered in Lyss, Switzerland, has its own production plants and technology centers in Europe, the United States, China and Japan so it is always near its customers. Around 2,600 employees and over 80 trainees work worldwide on new solutions and create key advantages for Feintool’s customers.
Feintool International Holding AG
Industriering 8
3250 Lyss
Switzerland
Spokesperson
Karin Labhart
Phone +41-32-387-5157
Mobile +41-79-609-2202
karin.labhart@feintool.com
www.feintool.com
The press release can be downloaded from the following link:
Press Release (PDF)
