Schaeffler Group
Encyclopedia
The Schaeffler Technologies GmbH & Co. KG (also known as Schaeffler Group) 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. It owns the brands INA, FAG, LuK.
The Schaeffler Group is a supplier to the automotive industry and one of the world‘s 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.
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. Thanks to this innovation, he lays the foundation for the entire rolling bearing industry.
1905: On July 29, the FAG brand is registered with the patent office in Berlin. The registered trademark FAG, stands for Fischers Aktien-Gesellschaft.
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 Georg Schäfer AG, Schweinfurt.
2003: INA, FAG and LuK form the Schaeffler Group.
2008: Schaeffler Group buys the much larger Continental AG
(Germany).
2009: It was recently alleged that the Schaeffler group, during the Second World War has used human hair from Auschwitz victims in textiles.( Haaretz)
2009: President and CEO of the Schaeffler Group, Dr. Jürgen M. Geißinger, was elected president of the World Bearing Association.
Aerospace
Aerospace comprises the atmosphere of Earth and surrounding space. Typically the term is used to refer to the industry that researches, designs, manufactures, operates, and maintains vehicles moving through air and space...
and industrial
Industry
Industry refers to the production of an economic good or service within an economy.-Industrial sectors:There are four key industrial economic sectors: the primary sector, largely raw material extraction industries such as mining and farming; the secondary sector, involving refining, construction,...
uses. In August 2008 the firm agreed to a staggered €12 billion acquisition
Mergers and acquisitions
Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...
of larger rival Continental AG
Continental AG
Continental AG, internally often called Conti for short, is a worldwide leading German manufacturer of tires, brake systems, vehicle stability control systems, engine injection systems, tachographs and other parts for the automotive and transport industries. The company is based in Hanover, Germany...
, whereby Schaeffler will defer taking a majority stake until at least 2012. It owns the brands INA, FAG, LuK.
The Schaeffler Group is a supplier to the automotive industry and one of the world‘s 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.
History
1883: Friedrich FischerFriedrich Fischer
Friedrich Fischer from Schweinfurt, Germany, is considered the father of the modern ball bearing, having invented the process for milling standard bearings in 1883....
of Schweinfurt
Schweinfurt
Schweinfurt is a city in the Lower Franconia region of Bavaria in Germany on the right bank of the canalized Main, which is here spanned by several bridges, 27 km northeast of Würzburg.- History :...
designs a machine to allow steel balls to be ground to an absolutely round state for the first time – and in large volumes. Thanks to this innovation, he lays the foundation for the entire rolling bearing industry.
1905: On July 29, the FAG brand is registered with the patent office in Berlin. The registered trademark FAG, stands for Fischers Aktien-Gesellschaft.
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 Georg Schäfer AG, Schweinfurt.
2003: INA, FAG and LuK form the Schaeffler Group.
2008: Schaeffler Group buys the much larger Continental AG
Continental AG
Continental AG, internally often called Conti for short, is a worldwide leading German manufacturer of tires, brake systems, vehicle stability control systems, engine injection systems, tachographs and other parts for the automotive and transport industries. The company is based in Hanover, Germany...
(Germany).
2009: It was recently alleged that the Schaeffler group, during the Second World War has used human hair from Auschwitz victims in textiles.( Haaretz)
2009: President and CEO of the Schaeffler Group, Dr. Jürgen M. Geißinger, was elected president of the World Bearing Association.