Tag: Schaeffler

Schaeffler UK’s Automotive Aftermarket joins NTDA

Monday 13th November 2017 | 0 Comments

Schaeffler UK’s Automotive Aftermarket business unit is proud to announce that it has become a supplier member of the National Tyre Distributors Association (NTDA). Schaeffler has elected to join the NTDA at a time when the company recognises that many tyre distributors and installers are accepting more general repair work.

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Schaeffler and industry support BEN’s Hats On 4 Mental Health Day

Tuesday 24th October 2017 | 0 Comments

Schaeffler Automotive Aftermarket (UK) was proud to join fellow members of the automotive industry in raising money for the automotive charity, BEN – by wearing hats to work to promote awareness about the growing potential for mental health issues to affect industry colleagues both at work and at home.

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Schaeffler Automotive Aftermarket upgraded to autonomous division

Tuesday 24th October 2017 | 0 Comments

Schaeffler AG has announced that its automotive aftermarket business will be upgraded to full divisional status following a prolonged period of growth. Effective from the 1 January 2018, the Schaeffler Group will be comprised of three separate divisions – Automotive OEM, Industrial and the newly-created Automotive Aftermarket (AAM) – which will be run autonomously within Schaeffler from its headquarters in Langen, Germany.

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Lucas di Grassi takes Formula E title

Lucas di Grassi takes Formula E title

Friday 4th August 2017 | 0 Comments

Team ABT Schaeffler Audi Sport’s Lucas di Grassi is the new Formula E Champion after securing a comfortable points’ finish in the season finale at the Hydro-Quebec Montreal ePrix.

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Midwest hosts Schaeffler technical evening

Midwest hosts Schaeffler technical evening

Monday 26th June 2017 | 0 Comments

Midwest Motor Factors & Monmore Auto Parts have hosted a Schaeffler (UK) technical evening at the GTG Academy in Wolverhampton, enabling garages to familarise themselves with the latest and upcoming clutch technologies.

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Explosion in Schaeffler plant – 13 injured

Monday 15th May 2017 | 0 Comments

An explosion this morning at a factory owned by Continental shareholder Schaeffler is said to have injured 13 people. According to a report from the Police in Lower Franconia, Germany, an explosion occurred within a production hall at Schaeffler’s roller bearing factory in the town of Eltmann. It is currently thought that the explosion and a small fire that followed are linked to a problem with a cleaning system for industrial salt.

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OESAA explains OE difference at Mechanex

Friday 25th November 2016 | 0 Comments

The informative Original Equipment Suppliers Aftermarket Association (OESAA) stand at this year’s Mechanex Sandown show proved a real talking point amongst attendees, providing an opportunity to examine ‘like for like’ parts for themselves. The busy stand, staffed by representatives from a wide range of OESAA member companies, featured comparable components from OE and non-OE suppliers to highlight the dramatic differences in quality that can exist between the two, as well as the detrimental impact that fitting sub-standard parts can potentially have on a garage’s reputation.

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Schaeffler cuts IPO following VW scandal

Monday 12th October 2015 | 0 Comments

In what is being interpreted as fallout of the Volkswagen (VW) emissions scandal, Schaeffler significantly reduced its initial public offering (IPO) after delaying in light of the VW revelations. VW accounts for more than 10 per cent of sales at Schaeffler, which makes ball bearings for products ranging from tools to airplanes.

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Up to 25% share in Schaeffler to be sold through IPO

Up to 25% share in Schaeffler to be sold through IPO

Monday 21st September 2015 | 0 Comments

Continental AG majority shareholder and automotive industry supplier Schaeffler today announced its intention to place up to 166 million new and existing non-voting common Schaeffler AG shares with institutional investors and to list these on the Prime Standard segment of the Frankfurt Stock Exchange’s regulated market. The proceeds of this initial public offering will be used to reduce debt within both Schaeffler AG and Schaeffler Holding.

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Moody’s lifts Continental AG rating to Baa1

Wednesday 1st July 2015 | 0 Comments

Moody's Investors Service has upgraded its rating for tyre and automotive systems manufacturer Continental AG, and removed the restriction that the company’s rating must remain within three notches above that given to major shareholder Schaeffler AG. This upgrade applies to both the long-term Issuer Rating and the senior unsecured ratings of Continental and its rated subsidiaries, and sees it rise from Baa3 to Baa1.

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There’s money in them tyres – Schaeffler tops Germany’s rich list

There’s money in them tyres – Schaeffler tops Germany’s rich list

Monday 9th March 2015 | 0 Comments

He appeared together with his mother at the apex of financial publication Bilanz’s list of the 500 richest Germans last autumn, and now Georg Schaeffler has been named the richest person in Germany by Forbes magazine. According to Forbes, the 80 per cent owner in Continental majority shareholder the Schaeffler Group possesses assets worth US$26.9 billion, which secures him 21st place in the publication’s global rich list and first in Germany. His top spot in the national table sees him ahead of a trio of discount supermarket moguls – the owners of Aldi Süd (which operates Aldi in the UK), Lidl and Aldi Nord.

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Is Schaeffler considering another Conti share purchase?

Thursday 22nd January 2015 | 0 Comments

Schaeffler, the family-run ball-bearing maker and largest shareholder in Continental AG, is reportedly considering a multi-billion euro IPO for its ball-bearing business in what could be a prelude to a further purchase of Conti shares. The Wall Street Journal (WSJ) has led coverage of the recent financial manoeuvres between Conti and Schaeffler, however financial analysts and other commentators lend credence to the view that purchasing Conti stock could be the endgame.

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Schaeffler fined €370.5M for bearing cartel participation

Wednesday 19th March 2014 | 0 Comments

Continental AG majority shareholder Schaeffler AG is one of five companies that have been handed substantial fines for operating a cartel in the automotive bearing market. The European Commission fined the companies a total of more than €953 million, with the largest single fine given to Schaeffler. The German manufacturer must pay €370.5 million, almost 40 per cent of the total penalty.

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Klaus Deller named next Schaeffler CEO

Friday 14th February 2014 | 0 Comments

On 1 July 2014, Klaus Deller will take over from Klaus Rosenfeld as chief executive officer of major Continental shareholder Schaeffler AG; Rosenfeld has held this office on an interim basis since the departure of Jürgen M. Geißinger last year. Deller will also become a member of the Board of Directors of INA-Holding. The appointment was confirmed by Schaeffler’s Supervisory Board yesterday.

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A dozen new companies join Conti & Schaeffler’s ‘Premium Circle’

A dozen new companies join Conti & Schaeffler’s ‘Premium Circle’

Monday 2nd December 2013 | 0 Comments

At Continental and Schaeffler’s joint ‘Premium Supplier Day’ in November the two companies named 12 new companies as premium suppliers, and renewed the status of their 19 existing premium suppliers. At the ceremony, Günter Fella, Continental Automotive's senior vice-president of purchasing, described the cooperation with its premium suppliers as the "basis for a successful industrialisation" of new technologies.

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