Weinig Will Transfer Component Production for Tools by MID-2013

Weinig will transfer component production for tools from Switzerland to Tauberbischofsheim by mid-2013 and subsequently close down the business of Michael Weinig S.A., which is headquartered in La Chaux-de-Fonds, Switzerland. Weinig financial director Gerald Schmidt reports that 31 employees in Switzerland are affected by the transfer and closure. Following this decision, Weinig will in future concentrate all tool manufacture at its headquarters site, where the development and design of all tools, as well as the production of special tools, is already located. In addition to cutting costs, Weinig expects that the transfer will also enable synergies to be exploited as a result of the close coordination of design and production and permanently strengthen the Tauberbischofsheim location.