Feintool Group boosts sales in harsh environment

In the 2000-2001 financial year (i.e. the period to 30 September 2001), the Feintool Group lifted its consolidated sales by 10.3% to CHF 471.0 m (1999-2000: CHF 427.0 m). Most of the growth stemmed from the European and Japanese fineblanking productions as well as from the Assembly/Automation segment, which - due among other things to the first-time consolidation of the Afag Group - saw a large increase in sales. In the light of new orders for parts and components plus enquiries regarding presses and automation systems, the Group's medium to long-term prospects are bright.

The Fineblanking/Forming segment contributed 54.9% of Group sales (previous year: 66.3%). Although the segment's sales declined, sales of the parts manufacturers in Europe and Japan increased. The US facilities saw a sharp drop in sales owing to large falls in output at American car producers over the last few months. Now that new supply contracts have been signed, the US factories will be working up to capacity in 12-18 months' time. At fineblanking press systems, the new HFAplus generation of presses was in high demand. Delivery problems in the first few months after launch did, however, result in a slight fall in sales. Thanks to a large volume of orders in hand, the HFAplus can look forward to buoyant business in the new financial year.

The Assembly/Automation segment, into which the Afag Group was consolidated at the beginning of 2001, contributed 31.5% of Group sales (year-back figure: 19.0%). The automation components business had, adjusted for acquisitions, a growth of 19%. The companies active in automation systems and assembly technology (IMA, mhk, Afag and Baltec) were confronted with the sharp downturn in the telecoms/mobile phone industry and with the sluggish investment climate in the USA. Thanks to a proactive market stance, however, they were able to maintain capacity utilization at reasonable levels.

The Plastic/Metal Components segment contributed 13.5% of Group sales (previous year: 14.7%). In the manufacture of high-quality plastic/metal composites priority has been given to optimizing internal processes and cutting back on unprofitable lines. Nevertheless, sales could be held on the previous year`s level. A number of new launches at Biberist and Tennessee will help to ensure substantial growth over the next few years.

Group sales by segment:

- Fineblanking/Forming:
CHF 258.8 m (283.1 m)
- Assembly/Automation *):
CHF 148.6 m ( 81.1 m)
- Plastic/Metal components:
CHF 63.6 m ( 62.8 m)

*) with first-time consolidation of Afag Group
CHF 58.2 m

Group sales by region:

- Europe:
67% (60%)
- North America:
25% (32%)
- Asia: 8% (8%)

Detailed information on the Group's results and financial position and on the prospects for the new financial year will be presented at the press conference on 27 November 2001.

==> This press release can be downloaded as PDF from the enclosed link.