Forming technology
Schuler sells technical center
The Schuler Group has sold its technical center in Tianjin, northern China, to the Swiss technology group Feintool. The Lyss-based company will produce precision components for the automotive industry in Tianjin on Schuler presses.
Feintool will take over all of the approximately 30 employees in Tianjin, the plant's infrastructure and existing customer orders. Both parties agreed not to disclose further details of the transaction. The final closing of the purchase agreement is expected at the end of March 2017. Feintool intends to expand its production capacities in Tianjin later this year using Schuler technology.
"Our technology center in Tianjin has been very well received by the market since it opened in 2014," said Schuler CEO Stefan Klebert. "Local interest in commissioning Schuler with the production of components for automotive manufacturing in China has increased significantly, especially in 2016. We have thus achieved our strategic goal of inspiring customers in China with Schuler technology. Unlike mechanical and plant engineering, however, the production of vehicle components is not our core business, which is why we are delighted to have found a strong buyer in Feintool, who will now take this task to a new level."
Alexander von Witzleben, Chairman of the Board of Directors of Feintool, explained that Feintool's investment in China meets its customers' requirements for a global presence and worldwide expertise. "We can thus close a strategic gap in Asia," he said.
Schuler is a technology and global market leader in forming technology. The company offers presses, automation solutions, dies, process expertise and service for the entire metalworking industry and lightweight automotive construction. Its customers include automotive manufacturers and suppliers as well as companies from the forging, household appliance, packaging, energy and electrical industries. In the 2015 financial year, Schuler achieved sales of 1.2 billion euros. Following the acquisition of the die manufacturer Aweba and the majority stake in the Chinese press manufacturer Yadon, Schuler now has around 6,800 employees in 40 countries. Schuler is majority-owned by the Austrian Andritz Group.
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