Schaeffler Schweiz, a subsidiary of Schaeffler headquartered in Romanshorn, is to sell its fine blanking activities to the Swiss owner-managed Güntensperger Group.

All 170 employees related to the fine blanking business unit will be taken over by the acquirer. The fine blanking activities realised a revenue of CHF50m (US$50m) in the previous business year.

Both parties have agreed not to disclose any details about the transaction and the trading business unit of Schaeffler Schweiz remains unaffected.

“The sale of the fine blanking activities is an important first step towards a concentration on our core competencies and portfolio optimisation,” said Schaeffler CEO, Klaus Rosenfeld.

“We are pleased to have found a buyer in the Güntensberger Group that is a long-standing business partner, who wants to complement its present business portfolio.”

The transaction is expected to be completed in the first half of 2017.

The Güntensperger Group was founded in 1979. The Swiss family-owned company headquartered in Bubikon, specialises in the development and manufacture of precision tools.