German entrepreneurs Alexander and Karl Schaeff are taking over handling and feeding technology supplier Afag from Feintool International Holding AG. The entrepreneurial strategy of the purchaser will provide the ideal platform for Afag to further expand its leading position. All 150 Afag employees will be retained by the new owner.
On 21 June 2011, the Germany-based Schaeff Group signed an agreement with Feintool International Holding AG for the Afag takeover. Afag has developed and manufactured assembly components and feeding solutions for more than 50 years, and has emerged as one of the leading global suppliers in this area. The company has a total of 150 employees (including 10 trainees) spread between its own production and sales companies in Huttwil (Switzerland), Amberg and Leonberg (both Germany). It is now active in 20 countries around the world through a network of approved distribution partners.
"We are convinced that our entrepreneurial philosophy and businesses ties will enable us to expand Afag's operations into new fields.We believe in the growth of Afag, and as its new owners we will drive forward the development of the company together with its employees" comments Alexander Schaeff, the proprietor of Schaeff Group.
"The sale of Afag will enable us to focus more closely on our core competencies in the area of series parts production and investment goods - in other words, on fineblanking and automation technology solutions. We see no potential for expanding handling and feeding technology operations in the areas covered by our other businesses. We are certain that Afag will benefit from excellent development opportunities under its new owners, particularly given their industry relationships," explains Heinz Loosli, CEO of Feintool Group.
Adjusted guidance for the Feintool Group
As a result of the sale of Afag, Feintool has adjusted its sales forecast for continuing operations in the 2010/11 financial year to CHF 360-375 million, with EBIT of CHF 10-14 million. The repercussions of the crisis in Japan are not yet definitively quantifiable.
Afag is a leading manufacturer of high-quality pneumatic and electric handling components and complete feeding stations for assembly automation. In addition, the company supplies a wide range of components for feeding technology.
Significant drivers of Afag's success include more than 50 years' experience and the application of state-of-the-art technologies, as well as outstanding client proximity. Today the company ranks among the leading global suppliers in the market. Afag's client base encompasses growing industries such as solar, pharma, and medical technology, as well as traditional sectors such as automotive, electrical engineering, food and consumer goods.
The Schaeff family and its corporate group focuses on the strategic management of high-technology companies, mainly from the manufacturing industry.All Group companies have the same aim - namely, technology leadership in the corresponding market. In the area of automation in particular, Schaeff Group has longstanding experience as well as a number of further holding interests with synergy potential. This makes the acquisition of Afag look particularly promising.
Feintool International Holding AG
Industriering 8, CH-3250 Lyss
Phone +41 (0)32 387 51 11
Fax +41 (0)32 387 57 81