Mar, May 28th 2024
Feintool announces the relocation of high-volume production from Lyss to the Czech Republic by 2025
Automotive supplier Feintool is relocating part of its production from Lyss to the Czech Republic by the end of 2025. The company announced on Tuesday that this move involves high-volume production, which is heavily impacted by factors such as the strong Swiss franc and high labor and energy costs, making it uncompetitive in Switzerland.
The relocation will result in the loss of 70 out of 200 jobs in Lyss BE. Feintool employs 3,200 people across 17 locations worldwide. Despite the move, the fineblanking and hydrogen competence centers and the Group’s headquarters will remain in Lyss.
The restructuring will have financial repercussions. This year, the Group’s result is expected to be impacted by CHF 10 to 12 million. However, once the relocation is complete, an “sustainable improvement” in operating profit (EBIT) of CHF 7 million per financial year is anticipated.
The decision to relocate is driven by the challenging market environment in the European automotive sector. Manufacturers and suppliers are adapting their production and business models, prompting Feintool to review its production capacities.
©Keystone/SDA
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