Feintool Expands its Operations in Tokod

Feintool, a Swiss-owned leader in precision electrical steel and formed steel components manufacturing, is investing EUR 34.1 million to expand its Tokod facility in Hungary’s Esztergom district. The project will add 6,740 square meters to the existing plant, with the new production unit is scheduled to start production by late 2025, the Hungarian Investment Promotion Agency reports.

The expansion of Feintool, a company operating in Hungary since 1996, could further accelerate the country’s progress in the electrification transition. Operating across seven countries on three continents with 18 production plants and technology centers, Feintool delivers cutting-edge solutions in fine blanking, material processing, and electrical lamination, primarily for the automotive industry. Its product range spans from compact industrial drives and high-efficiency mobility solutions to massive generators for offshore wind turbines.

The competitiveness of Hungary's economic environment and its leading role in Europe are clearly demonstrated by the fact that the manufacturing giant has once again chosen the country as its investment location. As a result of this decision, Feintool’s Tokod plant is set to become a flagship hub for high-tech manufacturing. Among the company’s prestigious clients are brands such as Audi, BMW, Bosch, and Siemens, while the EUR 34.1 million expansion will enable the Hungarian facility to supply components for Volvo’s electric vehicle models.

The expansion enables Feintool to meet the growing demand for complex automotive components in the rapidly evolving electric vehicle industry, while managing new manufacturing orders from its Tokod facility, serving customers in Hungary and across Europe.