Schuler Group agreed to sell the automotive-stamping die manufacturing operations of is Schuler Pressen division in Göppingen and Weingarten, Germany, to a private-investment group formed by Navigator Capital GmbH and Accursia Capital GmbH. The sale will take effect February 28, 2020, and the two plants will operate as a business unit called Cartec Tooling GmbH.
No value was announced for the sale. About 200 workers are employed at the two plants.
Schuler will continue to manufacture other types of dies (including forging dies) for forming, and molding. Those operations will be consolidated with Aweba, a subsidiary business that Schuler acquired in 2016.
Aweba manufactures forming dies, cutting dies, hydroforming dies, and diecasting dies, as well as fixtures, and offers die design services, for machine building, automotive, and electrical markets worldwide.
“We have been searching hard for the best solution for our toolmakers," commented Schuler’s CEO, Domenico Iacovelli. "Irrespective of the acute problems the market is now facing, these specialists will have a better opportunity to achieve sustainable growth as part of the future Deutsche Werkzeugbau Group.
"At the same time, Schuler Pressen GmbH will be able to focus more on its original core business of press construction and service," he added.
Cartec Tooling will be a part of a new company to be called Deutsche Werkzeugbau (DWB, translated as German Toolmaking). DWB previously acquired Gebr. Rath Werkzeugbau in Kreuztal, Germany, which processes high-strength materials for automotive manufacturing. The Cartec businesses producing dies for automotive body panels will expand the scope of the new enterprise.
Die manufacturing represents an important part of the new owners' plan to develop a global manufacturing business. "In spite of the current crisis in the automotive sector, German manufacturers will enjoy excellent growth opportunities in the coming years due to their outstanding technical expertise and customer relationships. Schuler’s die construction unit and the people it employs are highly regarded in the market. We aim to build on this position and make a long-term investment in the unit," according to Dr. Jochen Brinkmann, managing director of DWB and of Navigator Capital.