To optimize production, the Lyss (Switzerland) based Feintool Group is closing two of its smaller plants in the USA and in Thailand.
The Feintool fineblanked parts plant at White Plains in New York State, which is over 30 years old, no longer has the space to accommodate the new investments required. Consequently, production will be integrated into the main US facility in Cincinnati, Ohio, in the 2007/08 financial year. Part of the approximately 20-strong workforce at White Plains will be transferred to Cincinnati. Feintool will work out a welfare plan for the employees who cannot be offered new jobs.
Furthermore, Feintool will close the plastic composite components factory in Lamphun, Thailand, at the end of 2007, as it has not been able to obtain the anticipated orders from local and regional customers needed for utilizing the available capacity. Most of the pending orders will be transferred back to Switzerland. Feintool has devised a welfare plan for the 20 or so employees affected.
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 throughout the world at the company's own facilities in Switzerland (head office in Lyss), Germany, France, Italy, 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
Mobile 079 204 41 13
The media release can be downloaded from the following link:
