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.
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.
Schaeffler has an Indian subsidiary, Schaeffler India, which is publicly listed on the National Stock Exchange of India and the Bombay Stock Exchange.[10]
Keywords
60
75
FAG
INA
LuK.
firm
E. h.
Co. KG
August
Germany
company
brothers
LuK GmbH
Dr.-Ing.
aerospace
automotive
Dr. Wilhelm
main brands
majority stake
industrial uses
Schaeffler India
Schaeffler Group
Georg Schaeffler
Schaeffler-Gruppe
Indian subsidiary
Continental shares
€1.8 billion worth
German manufacturer
Bombay Stock Exchange
National Stock Exchange
€12 billion acquisition
rolling element bearings
Schaeffler Technologies AG
larger rival Continental AG
