Feintool Reports Sharp Rise in Volumes in First Quarter of Fiscal 2007/08
Feintool Group, the leading technology and systems provider for fineblanking/forming and assembly automation and a global supplier of metal and plastic components to the automotive industry, has started the 2007/08 financial year with a strong first quarter. Compared with the same period of the previous year, sales rose 20.6% to CHF 143.6 million while order intake was up 23% and orders in hand soared by 38.9%. Given that numerous fineblanking systems were delivered in the first quarter and that the US credit crisis could impact the level of business on local markets, volumes are expected to be somewhat lower in the next quarters.
The healthy year-on-year rises posted by the two segments Fineblanking/Forming (+ CHF 14.1 m or 17.6%) and Automation (+ CHF 11 m or 48.4%) can be ascribed to the large backlog of orders from the previous year. In the Plastic/Metal Components segment, the renewed fall in sales - for which a warning had already been issued - was kept to a moderate CHF 0.4 m or 2.5%.
The impressive rise in order intake and outstanding orders was due to the successful implementation of numerous interesting projects, mainly in Europe. Developments at the US production facilities are less encouraging: they are reporting lower volumes owing to the nervousness engendered by the credit crisis.
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 globally at the company's own facilities in Switzerland (head office in Lyss), Germany, France, Italy, Great Britain, the United States, Japan and China, where around 1900 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
feintool-fim@feintool.com
www.feintool.com
Corporate Communications
Urs Feitknecht
Phone +41 (0)32 387 51 63
Fax +41 (0)32 387 54 16
Mobile 079 204 41 13
urs.feitknecht@feintool.com
