*DJ Feintool wins important contract in Europe's hydrogen industry

(MORE TO FOLLOW) Dow Jones Newswires

April 17, 2024 00:30 ET (04:30 GMT)

The company is tasked with the production of high-precision metal components for fuel cells and electrolyzers. This successfully marks Feintool's entry into the European market, following the company's nomination in China by a leading market player.

The contract, which was awarded by a renowned European company specializing in fuel cells and electrolysers, involves the series supply of several components, including high-precision flow field plates. Initially, the order volume is expected to reach several million euros per year.

<> Torsten Greiner, CEO Feintool.

Collaboration between partners

This contract comes after close collaboration with the customer, which included the development and production of prototype tools and prototype parts. It builds on the successful joint production of hydrogen components by Feintool and its partner SITEC.

While the German company SITEC contributes its expertise in industrial laser welding, Feintool produces ultra-precise components in high volumes.

The successful partnership between SITEC and Feintool is evident in our site in Taicang (China), where in 2024 series production of precision metal components for the hydrogen economy in the Asian market will start.

About Feintool

Feintool is an international technology and market leader in electrolamination stamping, fineblanking, and forming. We manufacture high-quality precision parts in large volumes from steel.

We supply the automotive industry, energy infrastructure equipment providers, and all manner of high-end industrial manufacturers. Feintool's products perfectly complement the mega-trends for green energy generation, storage, and usage.

Our core technologies deliver measurable cost-efficiency, consistent quality, and improved productivity. Feintool constantly expands the horizons of its production methods and develops intelligent solutions, innovative tools, and state-of-the-art manufacturing processes in line with customer needs.

Founded in 1959 and headquartered in Switzerland, the company has 17 production sites, 3,200 employees and over 100 vocational trainees in Europe, the USA, China, Japan and -- as of 2025 -- India. In 2023, turnover amounted to 848 million Swiss francs. Feintool is publicly listed and 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=SvgIkMa-oribPeFKfqPFoej2Oaxo6h9EaHW1sFVwItsVWrknZHRQoK907Kpe5Nn7T7XmKCwDhUAwMwA_xBZrtyjKJ4ub77plR0Ahpdvoe14uLluK0KhpJiO3pb1wMvq7

www.feintool.com https://www.globenewswire.com/Tracker?data=7QbiloD-0bIEdPHSHEmah0R-jjcD9Hq_WeBAVhkgqnR9kKo93kUdphkoVc0klZ9LYwgJmrw1O7APxZetqlQfog==

The press release can be downloaded from the following link:

Press Release (PDF) https://www.globenewswire.com/Tracker?data=-F5ttBrSloltQDYxGUJf03bbCVl1jO6YpFtnS0DfySAGJj-jGx8ajApJC6DxZE2UJAz93DQBjNzphInvbj8alNJGXKt-udTvbqpLd0glBkh2kOKqwncEqOoFmDJ0LY1JP0Go_oNHBj2FfRopf_iLn_0-gdy5b5PT6UPtFkH6aiTNUddNRdwzCg1wNVxBntmb

END) Dow Jones Newswires

April 17, 2024 00:30 ET (04:30 GMT)