Source: Util Group announcement
VILLANOVA D’ASTI, Italy – Util continues its global repositioning through the strategic acquisition of three Feintool 1100-ton presses and one Feintool 700-ton press to upgrade its production capabilities.
As part of the transaction, Util has purchased two Niederberger polishing lines with integrated washing and drying operations together with one Giustina double disc grinder machine for state-of-the-art mechanical processing.
The key objective of the investment is to provide Util’s customers with a wider range of fine blanking solutions at higher efficiency across its production centers in Europe, Asia and North America.
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This significant investment will further support the increasing volume growth and competitiveness, both in Util’s core business as well as its growing diversified product segment, expanding application reach with Car Makers, Tier1 Suppliers and Key Players outside the Automotive Market.
The investment reflects on the company’s vision and conviction about the future of fine blanking for the automotive and other key industrial sectors at a global level.
About Util Group
Util Group is a multinational company with more than 800 employees in four plants supplying fine blanked and conventionally blanked metal parts, primarily for the brake industry. The company is the Global N°1 Manufacturer of backing plates and brake shoes used in vehicle brake systems and is currently developing a portfolio of components based on fine blanking technology.
The company’s primary products are metal parts that need to cope with harsh environments and significant physical stress. Util’s success stems from its ability to provide high quality products at competitive prices supported by best-in-class sales and marketing, engineering and logistic services.
The company has a strong relationship with the leading friction material suppliers and brake system Tier 1 suppliers, which are its key customers. Util provides a range of products with innovative solutions that allows the company to consolidate its position as the leading co-designer and supplier of metal supports.