Schaeffler Technologies AG & Co. KG, also known as Schaeffler Group (Schaeffler-Gruppe in German), is a German manufacturer of rolling element bearings[5] for automotive, aerospace and industrial uses.[6] It was founded in 1946 by brothers Dr. Wilhelm and Dr.-Ing. E. h. Georg Schaeffler.[2]
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.[7] However, in 2011 Schaeffler sold off €1.8 billion worth of shares of Continental, reducing its stake from 75.1% to 60.3%.[8] Currently, the company owns 46% of Continental shares.[9] Schaeffler Group also owns the brands INA, FAG and LuK.
