Sales total CHF 370 million in 2008/09 financial year

As announced on 22 September 2009, the Feintool Group – a leader in fineblanking/forming systems and assembly automation, as well as a global supplier of fineblanked metal components to the automotive industry – suffered a considerable fall in sales. At CHF 370 million, sales were down by around 35 percent on the previous year's record figure of CHF 569 million.

The Fineblanking/Forming segment showed a 35 percent decline in sales, which fell to CHF 239.8 million from the previous year's figure of CHF 367.2 million. The components business recovered more quickly than capital goods.

The Automation segment contributed CHF 94.8 million to consolidated sales, equivalent to a decline of 33 percent from the previous year's figure of CHF 141.0 million.

In connection with the merger between IMA Automation Aarberg AG and Afag Automation AG in Huttwil and the associated closure of the Aarberg production site effective 31 January 2010, a redundancy scheme comprises employee benefits totalling CHF 1.8 million was agreed between Feintool management and employee representatives following a consultation period ending on 18 October 2009.

Sales generated by the Plastic/Metal Components segment, which is in the midst of a closure process, were virtually half the previous year's level at CHF 35.9 million (CHF 62.2 million).

Chairman of the Board of Directors Alexander von Witzleben summarized the 2008/09 financial year as follows: "The results are in line with our expectations. Owing to the worldwide fall in automotive production of up to 50 percent in our target markets, our sales and order intake were considerably reduced. With the measures we have initiated, we are convinced that we are equipped for the challenges of the coming financial year and look forward to the future with confidence."