Together we move the world so you can move the world
Welcome to the Schaeffler Group!
The Schaeffler Group with its brands INA, FAG and LuK is a leading manufacturer of rolling bearings and linear products as well as a renowned supplier to the automotive industry of high-precision products and systems for engines, transmissions and chassis applications. The group of companies stands for exceptional customer focus, innovative ability and the highest possible level of quality. Approximately 66,000 employees at over 180 locations in more than 50 countries worldwide generated sales of 8.9 billion euros in 2008. This makes the Schaeffler Group one of the largest German and European industrial companies in family ownership.
Current messages
Berthold Huber, Chairman of the IG Metall trade union, and Dr. Jürgen Geißinger, Schaeffler Group President and CEO, have signed a job security agreement today. The agreement also bears the signatures of Norbert Lenhard, Chairman of the Schaeffler KG Works Council, and Uwe Beckmann, Chairman of the Schaeffler Group’s Works Council.
Faced with the downturn in market demand, the Schaeffler Group is going to implement additional cost adjustments while trying to prevent layoffs whenever possible. This decision comes in reaction to sales decreases as a result of the economic crisis since late fall of last year and reduced sales expectations for the next few years.
Toyota has granted its “Achievement Award” in the “Supply” category to Schaeffler. With this distinction the Japanese automobile manufacturer acknowledges the quality of the products and services supplied by the Schaeffler Group. Schaeffler is one of only four suppliers to have received the “Achievement Award” in recognition of their supply performance at Toyota’s “Annual Business Meeting 2009” in Brussels.
Schaeffler Chain Drive Systems (SCDS) has today reached an agreement with employee representatives on a social compensation plan. This has cleared the way for conducting state financial reorganization proceedings (“Redressement Judicaire”), which are to save the company and secure a total of 269 jobs.
Today, Schaeffler Group signed a 1 bn loan agreement with its banks. 'With the 1 bn credit line we have gained further flexibility for Schaeffler Group', said Klaus Rosenfeld, CFO of the Schaeffler Group.
