Schaeffler Group

Schaeffler Group
Headquarters Herzogenaurach, Germany
Key people
Klaus Rosenfeld, CEO
Website www.schaeffler.com

The Schaeffler Technologies AG & Co. KG (also known as Schaeffler Group respectively Schaeffler Gruppe in German) is a privately owned major manufacturer of rolling element bearings for automotive, aerospace and industrial uses[1] before October 9, 2015 IPO in Germany. In August 2008 the firm agreed to a staggered €12 billion acquisition of larger rival Continental AG, whereby Schaeffler would defer taking a majority stake until at least 2012.[2] However, in 2011 Schaeffler sold off €1.8 billion shares of Continental, reducing its stake from 75.1% to 60.3%.[3] Currently, the company owns 46% of Continental shares.[4] Schaeffler Group also owns the brands INA, FAG and LuK.

In Germany, the main brands of the Schaeffler Group – INA, FAG and LuK – are marketed by Schaeffler Technologies AG & Co. KG and LuK GmbH & Co. oHG.

History

References

This article is issued from Wikipedia - version of the 11/20/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.