Schaeffler sells fine blanking activities in Switzerland

2016-11-21 | Herzogenaurach/Romanshorn

• Business will be sold to Swiss Güntensperger Group, a longstanding tool supplier for Schaeffler Switzerland
• All 170 employees related to the fine blanking business will be transferred
• The trading business of Schaeffler Schweiz GmbH remains unaffected

Schaeffler Schweiz GmbH, a fully owned subsidiary of Schaeffler AG, headquartered in Romanshorn, sells its fine blanking activities to the Swiss owner-managed Güntensperger Group. A corresponding contract was signed. The fine blanking activities of Schaeffler Switzerland run under the trade mark "Hydrel".

All of the around 170 employees related to the fine blanking business unit will be taken over by the acquirer. The fine blanking activities realized a revenue of c. CHF 50 million in the previous business year. Both parties have agreed not to disclose any details about the transaction. The trading business unit of Schaeffler Schweiz GmbH remains unaffected by this transaction.

Through this strategic decision, the Schaeffler Group concentrates itself on its core competencies. With the Güntensperger Group an acquirer could be found which can complement its outstanding know-how in toolmaking and hardening with the performance spectrum of fine blanking. Klaus Rosenfeld, CEO of Schaeffler AG, said: "The sale of the fine blanking activities is an important first step towards a concentration on our core competencies and portfolio optimization. We are pleased to have found a buyer in the Güntensberger Group that is a longstanding business partner who wants to strategically complement its present business portfolio."

The transaction is expected to be completed in the first half of 2017.