Feintool International Holding AG / Swiss investor group acquires riveting machine-manufacturer BalTec from Feintool Processed and transmitted by Thomson Reuters. The issuer is solely responsible for the content of this announcement.
With immediate effect, a Swiss investor group is acquiring the globally active manufacturer of riveting machines from Feintool International Holding AG. The buyer's entrepreneurial philosophy will create an excellent basis on which BalTec can further strengthen its leadership within the riveting machine market. All 50 BalTec employees will be retained by the new owner.
On 18 March 2011 a group of Swiss investors comprising Walter Gränicher, Alid Finanz AG and KMU Capital AG signed an agreement with Feintool International Holding AG regarding the takeover of BalTec. BalTec Maschinenbau AG, which has a total of approximately 50 employees working at its head office in Pfäffikon, Switzerland and its branches in France, the UK and the USA, is the world market leader in riveting machines. BalTec's radial riveting technology provides first-rate solutions wherever top-quality riveting is required - even for fastening applications for which non-rivet-based techniques were formerly used, and primarily in the automotive and fastenings industries.
"We are convinced that our entrepreneurial philosophy will enable us to take our riveting business into further sectors. We also have confidence in the future growth of this business, and are pleased to be the new owners of BalTec", says Walter Gränicher, Chairman of the Board of Directors of BalTec Holding AG.
The Feintool Group's CEO, Heinz Loosli, sums up the transaction as follows: "The sale of BalTec enables us to focus our business and continue the development of our core competencies. There were few synergies between BalTec and the other companies within the Feintool Group. With sales of just under CHF 20 million, the riveting machine business was not sufficiently close to our core activities. We are certain that BalTec will develop better market opportunities within the framework provided by its new owners."
About BalTec
A leader in the global market for riveting machines, Baltec is headquartered at Pfäffikon, Canton Zurich (Switzerland) and has a headcount of around 50. It has its own sales, engineering and service companies in the UK, France and the USA. In addition, about 40 representative offices around the world attend to customers and service the 30,000 riveting machines installed by the company to date. BalTec is committed to ongoing innovation, especially in process and riveting control, in order to secure its cutting-edge technological position for the future. BalTec's radial riveting technology provides first-rate solutions wherever top-quality riveting is required, and even in areas where non-rivet-based techniques were previously used.
www.baltec.com (http://www.baltec.com/)
About the investor group
The group consists of the following shareholders:
- Walter Gränicher, former member of the Alstom executive board
- Alid Finanz AG (family-owned holding company of Fredy Lienhard, Lista Group)
- KMU Capital AG (wholly owned subsidiary of Raiffeisen Schweiz)
The investor group receives entrepreneurial support from INVESTNET AG, Herisau. The partners and directors of Investnet AG, a joint-stock company subject to Swiss law with its registered office in Herisau (Canton Appenzell-Ausserrhoden), have a long and successful track record in trade, services and industry. Among other things, they have been responsible for the strategic and operational management of companies ranging from small firms up to listed multi-billion-franc operations. This provides an assurance that all evaluations and transactions will be performed in accordance with the state of the art and with best-practice principles, thus also serving the investors' interests.
www.investnetag.ch (http://www.investnetag.ch/)
For more information, please contact Karin Labhart, Media Spokesperson, at any time by calling +41 (0)32 387 51 63 or e-mailing karin.labhart@feintool.com (mailto:karin.labhart@feintool.com).
Feintool International Holding AG
Industriering 8, CH-3250 Lyss
Phone +41 (0)32 387 51 11
Fax +41 (0)32 387 57 81
feintool-fim@feintool.com (mailto:feintool-fim@feintool.com)
www.feintool.com (http://www.feintool.com/)
The press release can be downloaded from the following link:
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Feintool International Holding AG
Industriering 8 Lyss Schweiz
ISIN: CH0009320091;
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