*DJ New production site: Feintool continues success story in Asia with plant in India

(MORE TO FOLLOW) Dow Jones Newswires

January 30, 2024 00:30 ET (05:30 GMT)

With the founding of "Feintool System Parts India Pvt Ltd" and a new production site in the metropolitan region of Pune, Feintool is consolidating its strategic position as an important supplier of high-precision parts in Asian automotive production.

With an initial investment of CHF 15 million, Feintool is moving closer to long-standing customers who already produce in the region. "Feintool System Parts India Pvt Ltd" is establishing its presence in a promising market and reducing its CO2 footprint through significantly lower delivery-related emissions. Feintool production in Pune is expected to start in summer 2025.

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Torsten Greiner, CEO Feintool

The new facility in Pune complements Feintool's presence in Asia, with two production sites each in Japan (Atsugi and Tokoname) and China (Taicang and Tianjin). In the initial phase, starting from 2025, seat adjusters for various major automotive manufacturers will be produced in India. Feintool is the global market leader in the production of this fineblanked component. The site will also facilitate the implementation of new applications in the areas of battery and hydrogen-powered mobility, industry, and renewable energies in the future.

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Marcel Pernici, President Feintool System Parts Asia

About Feintool

Feintool is an internationally active technology market leader in the field of fineblanking, formed steel components and stamped electro sheet metal products. Cost-effectiveness, superior quality, and high productivity distinguish these technologies. As an innovation driver, Feintool continually pushes the boundaries of these technologies and develops intelligent solutions to meet its customers' requirements. Feintool offers innovative tools and state-of-the-art manufacturing processes for all aspects of high-volume sheet metal applications in the automotive industry and other demanding industrial sectors as well as renewable energies. The processes used support the megatrends of green energy generation, storage, and application. Founded in 1959 and headquartered in Switzerland, the company owns 17 production plants in Europe, the United States, China, and Japan, ensuring proximity to its customers. Around the globe, about 3,300 employees and over 100 apprentices are at work on new solutions to create key advantages for customers. Feintool, which is listed on the stock exchange, is majority-owned by the Artemis Group.

Feintool International Holding AG

Industriering 8

3250 Lyss

Switzerland

Media spokesperson

Karin Labhart

Phone +41 32 387 51 57

Mobile +41 79 609 22 02

karin.labhart@feintool.com https://www.globenewswire.com/Tracker?data=dBPmIh5PD3aAaRV8-kPcwaEPCFfaibPuX37QwmLqyQR8jfhr9AUmvDVptXoO00YqgKTnfVlILUZYmqOkd0Yh_XUiiEMpN1z5TpkE3sianMCQK7XpTHhJ0N28wDaOTNGJ

www.feintool.com

The press release can be downloaded from the following link:

Press Release (PDF) https://www.globenewswire.com/Tracker?data=qUyXDVlqe0ZVAeanM8Wooi2P1VTCtRvWYvKRbITHePD7QzoFCN4m5yUpjWio91atG2vgYXqzTT1d_6HQDd0zjVD4Oz6xOzjKBR0_DZrLAPgMIlv2-xeEUoulwJy5Ote6AuHSvkkeTw174fUfaDTsnyWm24ZQ7XTLCfCTU2QtCFjIcNNz5MIVxIMd-apmpfmz

END) Dow Jones Newswires

January 30, 2024 00:30 ET (05:30 GMT)