Press Release: Feintool secures further financial resources

Feintool has increased the loan agreement with its six principal banks

in Switzerland and Germany. The contract, signed on June 29, runs until

summer 2023 and ensures operational flexibility in a challenging

environment.

CEO Knut Zimmer on the positive conclusion of the contract: "The

consequences of the Covid-19 pandemic with several weeks of plant

shutdowns at our most important customers have a significant impact on

our business, to which we are responding with cost adjustments, among

others. By signing this contract, we provide for the coming period and

secure ourselves financially. We are convinced that with these measures

we have laid the base in all regions to quickly and flexibly exploit

opportunities arising from the successive recovery."

Feintool in brief

Feintool is an internationally active technology and market leader in

the field of fineblanking This technology is distinguished by

cost-effectiveness, quality and productivity.

As an innovation driver, Feintool consistently pushes the boundaries of

fineblanking and develops smart solutions for its customers' ideas with

two possibilities: On the one hand, our fineblanking systems and

innovative tools and, on the other hand, the complete production of

precise fineblanking and formed components in high volumes for demanding

industrial applications.

Feintool covers the entire process chain. The processes used by Feintool

support the trends in the automobile industry. Thus, Feintool is a

project and development partner in the field of lightweight construction,

different module types, and alternative drive concepts, such as hybrid

and electric.

The company founded in 1959 and headquartered in Lyss, Switzerland, has

its own production plants and technology centers in Europe, the United

States, China and Japan so it is always near its customers. Around 2,600

employees and over 80 trainees work worldwide on new solutions and

create key advantages for Feintool's customers.

Feintool International Holding AG

Industriering 8

3250 Lyss

Switzerland

Spokesperson

Karin Labhart

Phone +41-32-387-5157

Mobile +41-79-609-2202

karin.labhart@feintool.com

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www.feintool.com

The press release can be downloaded from the following link:

Press Release (PDF)

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(END) Dow Jones Newswires

June 30, 2020 01:00 ET (05:00 GMT)