Feintool moves production to the Czech Republic

29 May 2024 09:25

Greater Geneva BernSEC

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Lyss/Most - Feintool is expanding its expertise in the areas of fineblanking and hydrogen at its Lyss site in the canton of Bern in Switzerland. Due to challenging market conditions, the company is outsourcing most of its current large-scale production to the Czech Republic.

Feintool, the Lyss-based technology company specializing in fineblanking, forming and electrolamination stamping, is realigning its production strategies at the Group headquarters in response to market conditions. Production at the Lyss site is being expanded in the areas of fineblanking (including toolmaking) and hydrogen (production of bipolar plates for fuel cells), according to a statement

The company plans to relocate the large-scale production of supplier products, primarily for the automotive industry, to its branch in Most in the Czech Republic by the end of 2025. As reasons for its decision, Feintool cites the challenging market environment in the automotive industry, the high labor costs in Switzerland and the impact of the strong Swiss franc on pricing. These factors make it more difficult for the company to remain competitive, writes the statement. A total of 70 jobs are planned to be made redundant at the Lyss site.

“The optimization of the Lyss site is being carefully assessed and prepared in the interests of all stakeholders,” CEO Torsten Greiner is quoted as saying. “Since 1959, Feintool has grown from Switzerland to encompass 17 locations on three continents. With the competence centers for fineblanking and hydrogen as well as the Feintool Group headquarters, the extensive expertise in Lyss can be leveraged even more effectively and optimized as part of the repositioning.” ce/ww

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