Feintool reaches agreement with employee representatives in Sachsenheim on realignment of Business Unit Stamping Europe – Part of production in Sachsenheim to remain in operation

Core Points - Feintool has reached a significant milestone in the realignment of its Business Unit Stamping Europe, relocating automotive sector activities from Sachsenheim to other plants while retaining part of the operation for industrial applications [1][2] - The restructuring process, initially planned to close the Sachsenheim site, will now allow approximately 230 jobs to remain at the nearby locations of Vaihingen and Sachsenheim, slightly below the previously announced 250 positions [2] - The adjustment of capacities in the Business Unit Stamping Europe is expected to be completed by 2026, aiming to improve profitability [3] - The restructuring program will incur costs of around CHF 47 million, fully provisioned in the 2024 financial year, with expected annual savings of CHF 15 million once the realignment is completed [4] - The implementation of the restructuring will focus on socially responsible solutions, offering affected employees a choice between a voluntary program and a social plan [5] - The realignment is intended to strengthen Feintool's competitiveness and secure a sustainable future in Europe [6] - CEO Lars Reich emphasized the importance of the agreement in the transformation process, highlighting job security and the creation of a competitive basis for the future [7] - Feintool is a leader in electrolamination stamping, fineblanking, and forming, supplying high-quality precision parts to various industries, including automotive and renewable energy [8][9] - Founded in 1959, Feintool operates 18 production sites globally, employing 3,100 staff and 80 vocational trainees [10]