Schaeffler Group

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Schaeffler Group
Aktiengesellschaft
Traded as FWBSHA
Industry Automotive, Aerospace, Industrial
Founders Dr. Wilhelm Schaeffler
Dr.-Ing. E. h. Georg Schaeffler
Headquarters Herzogenaurach, Germany
Area served
Worldwide
Key people
Klaus Rosenfeld, (CEO)
Revenue

Increase €13.3 billion (2016)[1]

Increase €13.2 billion (2015)[2]
Number of employees
86,662 (2016)[1]
Website www.schaeffler.com

Schaeffler Technologies AG & Co. KG (also known as Schaeffler Group respectively Schaeffler Gruppe in German) is a manufacturer of rolling element bearings[3] for automotive, aerospace and industrial uses[4] before October 9, 2015 IPO in Germany. 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.[5] However, in 2011 Schaeffler sold off €1.8 billion shares of Continental, reducing its stake from 75.1% to 60.3%.[6] Currently, the company owns 46% of Continental shares.[7] 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[edit]

  • 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.[8][9]
  • 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."[10]
  • 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.[11]
  • 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.[1]

References[edit]

  1. ^ a b c "Schaeffler Annual Report 2016" (PDF). Schaeffler Group. 8 March 2017. 
  2. ^ a b "Schaeffler Group - Strategy - Overview". Schaeffler Group. 31 January 2017. 
  3. ^ "Fag Bearing on Rolls Bearing Limited". Retrieved 28 February 2017. 
  4. ^ Schaeffler Group
  5. ^ Mason, Rowena (21 August 2008). "Schaeffler family buys out tyre giant Continental for €12bn". The Daily Telegraph. Retrieved 25 August 2008. 
  6. ^ Rahn, Cornelius (28 March 2011). "Schaeffler Sells 1.8 Billion Euros in Continental AG Shares". 
  7. ^ "Continental Corporation -Shareholder Breakdown, Notification of Voting Rights". Continental AG. Retrieved 7 July 2015. 
  8. ^ "Bearing Dictionary - History". BearingsOn. 
  9. ^ "With pioneering spirit towards the future". Schaeffler Group. 30 June 2016. 
  10. ^ "The ball grinding machine from Friedrich Fischer was patented 125 years ago". www.schaeffler.com. Retrieved 2017-03-16. 
  11. ^ "Schaeffler KG: Geißinger Takes on Chairmanship of World Bearing Association". Thomas Publishing Company. 26 October 2009.