FEINTOOL INTERNATIONAL HOLDING AG 31.07.2014
The German Federal Cartel Authority has authorized the takeover of IMA Automation Amberg GmbH by Preh GmbH. The takeover agreement signed on 17 June 2014 with Feintool International Holding AG therefore enters into effect today. As already announced, the app. 250 IMA employees are being taken over by Preh. The IMA site in Amberg is also being retained.
With the sale of IMA, Feintool is completing its focus strategy which has been pursued over the past five years. Feintool is fully concentrated on the production of high-precision series parts using fineblanking and forming, as well as system solutions for fineblanking. The sale's proceeds will be used to grow further and to strengthen Feintool's capital structures.
Guidance for the Feintool Group confirmed
Feintool is revising its forecasts due to the sale of IMA. Sales of CHF 470 - 480 million are expected for the continuing operations in the 2014 financial year, with an EBIT margin forecast to be in the region of 6.7%. The medium-term target is for sales of CHF 600 million, with an EBIT margin of 8%.
About IMA Amberg
IMA Amberg GmbH specializes in the design and implementation of demanding assembly automation systems, both for small and ultra-small parts at high output rates and for larger and heavy parts at lower output rates. As a co-founder of the assembly automation industry, the company with its 227 employees and 22 trainees has nearly 40 years' experience and therefore ranks as one of the technology leaders. The high-profile, longstanding customer base vindicates IMA's modernization strategy. IMA's customers encompass growing industries such as solar, medical and pharmaceutical technology, as well as traditional sectors such as automotive, electrical engineering, food and consumer goods.
www.ima-automation.de http://www.ima-automation.de
About Preh/PIA
The Preh product division Preh Innovative Automation (PIA) with its app. 170 employees develops, plans and builds flexible high-performing assembly and production lines, mainly for automotive suppliers. The company's performance range extends from manual assembly workstations to fully automated production systems with integrated test technology and data documentation.
Preh GmbH is a subsidiary of the listed corporation Joyson Electronics, Ningbo/China (600699:Shanghai) and represents the Automotive Electronics division of the JoysonGroup. As a global automotive supplier with a tradition spanning 95 years, Preh reported sales of EUR 520 million in 2013 (+12.5°%). With 3430 employees, the company operates branches in Germany, Portugal, Romania, Mexico, the USA and China. Its headquarters is located in Bad Neustadt a. d. Saale/Germany. The development and production capabilities of Preh focus on climate and driver control systems, control devices for the battery management of E-vehicles as well as assembly systems.
www.preh.com
Press contact Feintool
Karin Labhart
Phone: +41 32 387 51 57
Mobile: +41 79 609 22 02
E-Mail:karin.labhartanti spam bot @feintoolanti spam bot .com
www.feintool.com
Press contact Preh
Carsten Deuster
SK medienconsult GmbH
Phone: +49 (0)211-5579450
Mobile: +49 (0)172-1741295
E-Mail: carsten.deusteranti spam bot @sk-medienconsultanti spam bot .de
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