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Hot Off the Press


Schuler Sells China Tech Center to Feintool

Tuesday, February 14, 2017

The Schuler Group has sold its technology center in the North Chinese city of Tianjin to Swiss company Feintool, which plans to produce precision components for the automotive industry in Tianjin using Schuler presses. The purchase agreement is expected to close at the end of March 2017.

“Since its launch in 2014, our center in Tianjin has been very well received by the market,” says Schuler CEO Stefan Klebert. “Local demand for Schuler to produce automotive components in China grew strongly in 2016 in particular. We have therefore achieved our strategic target of inspiring customers in China to use Schuler technology. However, our core business is the production of plant and machinery rather than vehicle components and we are, therefore, happy to have found a strong buyer in Feintool that can now take this task to the next level.”

Alexander von Witzleben, chairman of the board of Feintool, explains that Feintool’s investment in China was in response to customer demands for global presence. “This will enable use to close a strategic gap in Asia,” he says. 

Feintool will retain all 30 or so employees and the infrastructure of the plant in Tianjin, as well as existing customer orders, and plans to expand production at the plant through 2017.       

Metalforming Industry Movers & Shakers

Monday, February 13, 2017
Lapham-Hickey Steel has promoted Michele Summey to the position of vice president-corporate procurement, where she will negotiate and coordinate the buying activities among all seven of the company’s locations. Summey also will remain the Chicago division’s purchasing manager. The company offers a variety of material value-added processing services, including slitting, blanking, oscillating laser cutting, welding, forming and more. For details, visit

HGG Profiling Equipment, Medina, OH, a subsidiary of HGG, has appointed David Harris to manage customer sales and service for a seven-state region, including New Mexico, Texas, Oklahoma, Arkansas, Louisiana, Mississippi and Alabama. HGG supplies pipe-cutting machines, robotic profile cutting lines, and associated cutting-equipment products and systems. For more, visit

Outokumpu in IN Now New Castle Stainless Plate

Friday, February 10, 2017
The stainless-steel plate mill in New Castle, IN, previously owned by Finland-based Outokumpu, now operates as New Castle Stainless Plate, LLC. The mill and its assets were purchased from Outokumpu by the millʼs current management team and a private equity company, DʼOrazio Capital Partners, LLC.

Michael Stateczny, president of New Castle Stainless Plate, LLC, led the acquisition team that included five other members of the plantʼs senior leadership. All six become minority owners in the new business and will continue in their management roles.

“This mill is recognized for producing world-class specialty and standard grades of stainless steel,” Stateczny says. “We are committed to continuing this legacy. Our team, including our leaders, managers and mill employees, will remain intact.”

The operation provides specialty and standard grades of stainless-steel plate in some of the widest, thickest, and longest dimensions in North America, according to company officials.


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