Schaeffler Group

The Schaeffler Technologies AG & Co. KG (also known as Schaeffler Group respectively Schaeffler Gruppe in German) is a privately owned major manufacturer of rolling element bearings for automotive, aerospace and industrial uses. In August 2008 the firm agreed to a staggered €12 billion acquisition of larger rival Continental AG, whereby Schaeffler will 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.