Schaeffler rejects demerger | 02/21/21


 The  auto and industrial supplier Schaeffler does not want to split up like some other auto and conglomerates are currently doing.

“Separating just for the sake of separating is not a coherent concept, even if the stock market occasionally likes something like that,” said Schaeffler CEO Klaus Rosenfeld of the “Süddeutsche Zeitung” (Monday). “Schaeffler is just not a conglomerate in the classic sense, but an integrated technology group that serves various sectors,” Rosenfeld told the newspaper. © The  activities in the group are usually linked by a common production technology. Schaeffler is currently doing better than it was a few years ago.

In the automotive industry, too, as before with the Siemens conglomerate, there was recently a tendency to make largely independent parts of the company. ©

 The  car and truck manufacturer Daimler wants to completely separate the two major business areas this year and bring the truck business to the stock exchange via a so-called spin-off. ©

 The  majority of the truck and bus division will be transferred to its own shareholders. ©

 The  so-called spin-off of drive technology is also planned for this year at the automotive supplier and tire manufacturer Continental. In addition to the supplier with the family name, the Schaeffler family also owns around 46 percent of the shares in Conti.

Rosenfeld also rejected a deeper integration of Schaeffler and Conti. “Bringing everything together wasn’t really an issue in the past. It’s through.” Schaeffler is also not interested in the Conti drive business. If the Francs were to buy in, it would be in the industrial business. “Only buying size in order to get bigger would be wrong. We have to look at what complements and helps us technologically,” said Rosenfeld. Like others in the industry, Schaeffler is currently struggling with the shift towards electric drives. After shedding many jobs in recent years, the company is currently cutting 4400 more jobs.



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Schaeffler rejects demerger


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