Hints and tips:
...No family is more exposed to the car suppliers’ race to transition than that of Maria-Elisabeth Schaeffler and her son Georg, who chairs the Schaeffler company’s supervisory board....
...Schaeffler AG has raised its offer for the entirety of Vitesco Technologies to €94 from €91 as it seeks to boost its presence in the electric vehicle sector, a deal that Vitesco “constructively” supports...
...Schaeffler, controlled by Georg Schaeffler and his mother Maria-Elisabeth Schaeffler, already owns 49.9 per cent of Vitesco as well as 46 per cent of German tyremaker Continental....
...Greenlight on Monday laid out alternative deals that the company could strike, including selling its legacy power-train business to Schaeffler, which it said could “achieve many of the synergies Schaeffler...
...This is illustrated by a tender offer from Germany‘s Schaeffler for local peer Vitesco Technologies....
...The Bavarian car parts maker Schaeffler, which is controlled by Georg Schaeffler and his mother Maria-Elisabeth Schaeffler, on Monday said it would offer €91 per share to buy Vitesco — a fifth more than...
...Its rival Schaeffler last month announced a bid for EV specialist Vitesco, which was spun out of Continental two years ago, arguing that the arrival of Chinese brands in Europe would spur the need for car...
...The Porsche-Piech family have a controlling stake in carmaker Volkswagen and a portion of the voting rights in the newly-listed Porsche AG through the Porsche SE holding company....
...Billionaire duo Maria-Elisabeth Schaeffler-Thumann and her son Georg, the heirs of Schaeffler, also hold a 46 per cent stake in Continental....
...Bavarian parts-maker Schaeffler also announced plans to axe 4,400 roles, mostly in Germany....
...“Any company that has not confronted its role in history should do so,” the former Bosch and Schaeffler executive said, stressing that a closer understanding of the crimes of the past were instructive to...
...stake in the car part-maker Continental AG as Covid-19 batters the auto industry....
...The rating agency also put 14 key European auto parts makers under review for downgrade on Thursday, including Germany’s Schaeffler and France’s Valeo, due to what it described as “a severe and extensive...
...The group, alongside other auto suppliers such as Bosch, ZF and Schaeffler, faces “unprecedented disruption” as its customers abandon the combustion engine, “rendering portions of intellectual property and...
...German component maker Schaeffler produces parts, including ball bearings, that are used widely by carmakers....
...The executive he brought along was not a hedge fund manager or a freewheeling real estate developer, but rather Klaus Rosenfeld, head of Schaeffler Group, one of the world’s leading suppliers of ball bearings...
...standards hit carmakers’ production in Europe, the US threatens a broader trade war with Europe and China, and a string of auto suppliers have issue profit warnings including Continental, ThyssenKrupp and Schaeffler...
...standards hit carmakers’ production in Europe and the US threatens a broader trade war, a string of German auto suppliers have issued profit warnings this year, including Continental, Thyssenkrupp and Schaeffler...
...Schaeffler was not immediately available for comment....
...“We suspect Schaeffler is caught in the crosshairs of a typical legacy business of transmission and likely making catch-all excuses,” he said....
...But investors concerned that electric vehicles might inflict a similar fate on Schaeffler are too bearish....
...Schaeffler is more profitable than most peers, with operating margins of almost 13 per cent (carmakers get by on 5-10 per cent)....
...In the case of Schaeffler, it’s not just the size of the issue which catches the eye....
...Greater China was Schaeffler’s top-performing region last year, with revenues climbing 23.5 per cent, or 6.0 per cent in constant currency terms....
...In 2014, the EU fined German auto-supplier Schaeffler €371m and Swedish supplier SKF €315m for colluding — with four Japanese suppliers — on the sale of ball bearings....
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