Girish Mahajan (Editor)

Schaeffler Group

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Type
  
Aktiengesellschaft

Area served
  
Worldwide

Headquarters
  
Germany

Parent organization
  
IHO Verwaltungs GmbH

Traded as
  
FWB: SHA

Key people
  
Klaus Rosenfeld, (CEO)

Founded
  
1883


Industry
  
Automotive, Aerospace, Industrial

Founders
  
Dr. Wilhelm SchaefflerDr.-Ing. E. h. Georg Schaeffler

Stock price
  
SHA (ETR) € 15.73 +0.10 (+0.67%)23 Mar, 5:35 PM GMT+1 - Disclaimer

CEO
  
Klaus Rosenfeld (1 Jul 2014–)

Subsidiaries
  
FAG Kugelfischer AG & Co. oHG

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Schaeffler group


Schaeffler Technologies AG & Co. KG (also known as Schaeffler Group respectively Schaeffler Gruppe in German) is a manufacturer of rolling element bearings for automotive, aerospace and industrial uses before October 9, 2015 IPO in Germany. It was founded in 1946 by brothers Dr. Wilhelm and Dr.-Ing. E. h. Georg Schaeffler. 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. However, in 2011 Schaeffler sold off €1.8 billion shares of Continental, reducing its stake from 75.1% to 60.3%. Currently, the company owns 46% of Continental shares. Schaeffler Group also owns the brands INA, FAG and LuK.

Contents

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 group manufacturing and engineering


History

  • 1883: Friedrich Fischer of Schweinfurt designs a machine to allow steel balls to be ground to an absolutely round state for the first time – and in large volumes.
  • 1905: On 29 July, the FAG brand is registered with the patent office in Berlin. The registered trademark FAG is an acronym for "Fischer's Automatische Gusstahlkugelfabrik," or "Fischer's Automatic Steel Ball Factory."
  • 1946: Brothers Wilhelm and Georg Schaeffler, both holders of Ph.D. degrees, found INA in Herzogenaurach.
  • 1949: The needle roller cage, developed by Georg Schaeffler, makes the needle roller bearing a reliable component for industrial applications.
  • 1965: LuK Lamellen und Kupplungsbau GmbH is founded in Bühl (with INA as one of the investors).
  • 1999: INA takes over LuK GmbH
  • 2002: Acquisition of FAG Kugelfischer AG, Schweinfurt.
  • 2003: INA, FAG and LuK form the Schaeffler Group.
  • 2008: Schaeffler Group buys the much larger Continental AG (Germany).
  • 2009: President and CEO of the Schaeffler Group, Dr. Juergen M. Geissinger, was elected president of the World Bearing Association.
  • 2011: Schaeffler Group becomes Schaeffler AG and Schaeffler Technologies AG & Co. KG
  • 2013: On 4 October, an employee letter said "... Mr. Klaus Rosenfeld will take over as acting CEO in addition to his current responsibilities as Chief Financial Officer".
  • 2013: The third generation of Schaeffler’s electric axle, presented in Schaeffler’s ACTIVeDRIVE, becomes a promising pilot production product.
  • 2014: Schaeffler opens its first Russian plant Ulyanovsk, from which it supplies high-quality products to both domestic and overseas automobile manufacturers as well as to the railway industry.
  • 2015: Schaeffler successfully completes its initial public offering on October 9, 2015 under the motto "We share our success".
  • 2016: The strategy "Mobility for tomorrow" is adopted. U.S. and China plants are expanded and a new facility is opened in Chonburi, Thailand along with a new office in Moscow, Russia.

    • References

    Schaeffler Group Wikipedia
    (Text) CC BY-SA


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