subject: Something about the Schaeffler Group [print this page] Something about the Schaeffler Group Something about the Schaeffler Group
The Schaeffler Group is a renowned supplier to the automotive industry and one of the worlds leading manufacturers of rolling bearings and linear products. In Germany, the main brands of the Schaeffler Group INA, FAG and LuK are marketed by Schaeffler Technologies GmbH & Co. KG and LuK GmbH & Co. oHG.
INA products have been known for creative application solutions as well as a high level of engineering and manufacturing expertise for many decades. The traditional FAG brand that is over 100 years old has been part of the Schaeffler Group since 2001. For more than 40 years, LuK has been synonymous with strength of innovation, customer focus and quality for numerous products in the automotive drivetrain.
From the day of June 28th, 2010, the Schaeffler Group integrated the stock of Continental AG with its business into the Schaeffler Co, Ltd which was a management holding company.
According to the rules of Codetermination in Germany, the supervision board of Schaeffer Co, Ltd has 20 members, among which the representatives of stockholders are Ms Maria-Elisabeth Schaeffler, Mr. Georg F.W. Schaeffler, Professor Hans-Joerg Bullinger, Doctor Eckhard Cordes, Doctor Hubertus Erlen, Professor Bernd Gottschalk, Franz Josef Kortuem, Siegfried Luther, Robin Stalker and Doctor Otto Wiesheu.
The change will have little effect on the employees, customers and suppliers. They can continue to contact the persons in the Schaeffler Group. Besides, the business of the company will not be influenced directly.
Ms Maria-Elisabeth Schaeffler, a stockholder of the Schaeffler Group, says that the transformation is a very important step for the company to go into the capital market; meanwhile, it provides the company with better strategic flexibility. Addition to this, the company will maintain its own value and run the company in the way of family business.
The Schaeffler Group is the leading corporation which produces rolling bearings and linear products; moreover, it is one of the suppliers for the high-precision products used in the motor industry like motors, gearboxes and so on. The INA and FAG brands just stand for the development and manufacture of high-quality rolling bearings, plain bearings, linear guidance systems, and engine components for mechanical engineering, aerospace and the automotive industry worldwide.
As a forward-looking company, the Schaeffler Group has invested significant amounts in research and development, most recently in new R&D centers in Asia and North America. 4,800 of the 61,000 Schaeffler Group employees worldwide (status 2009) work on the development of new products and technologies. Approximately 1,100 inventions are registered as patents every year. With its brands INA, FAG and LuK, the Schaeffler Group is present at 180 locations in 50 countries worldwide.
