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%.