Schaeffler Group facts for kids

Quick facts for kids
Schaeffler AG

Schaeffler's headquarters in Herzogenaurach, Germany.
Type	Aktiengesellschaft
Traded as	FWB: SHA
Industry	Automotive, Aerospace, Industrial
Founders	Wilhelm Schaeffler Georg Schaeffler
Headquarters	Herzogenaurach , Germany
Area served	Worldwide
Key people	Klaus Rosenfeld, (CEO) Peter Pleus Dietmar Heinrich Matthias Zink Michael Söding Andreas Schick Corinna Schittenhelm Uwe Wagner Stefan Schindler
Revenue	€25 billion (2023)
Number of employees	120,000 (2023)
Subsidiaries	Continental AG, Vitesco Technologies, Barden Corporation, XTRONIC GmbH, Schaeffler India

Schaeffler Technologies AG & Co. KG, also known as Schaeffler Group, is a German company. It makes special parts called bearings for cars, airplanes, and other machines. Bearings help things move smoothly.

The company was started in 1946 by two brothers, Dr. Wilhelm and Dr. Georg Schaeffler. Today, the company is mostly owned by Maria-Elizabeth Schaeffler-Thumann and her son, Georg F. W. Schaeffler. They also own parts of other big companies like Continental AG.

Schaeffler Group owns three well-known brands: INA, FAG, and LuK. These brands sell their products in Germany and around the world. Schaeffler also has a company in India called Schaeffler India.

How Schaeffler Started and Grew

Schaeffler has a long and interesting history. It began with an important invention and grew into a global company.

Early Beginnings and Key Inventions

• 1883: A man named Friedrich Fischer in Germany invented a machine. This machine could make steel balls perfectly round. This was a big step for making bearings.
• 1905: The FAG brand was officially registered. FAG stands for "Fischer's Automatic Steel Ball Factory."
• 1946: The Schaeffler brothers, Wilhelm and Georg, started their own company, INA. They set it up in a town called Herzogenaurach.
• 1949: Georg Schaeffler created a new part called the needle roller cage. This made needle roller bearings much better for industrial use.

Expanding the Company

• 1965: LuK Lamellen und Kupplungsbau GmbH was founded. INA was one of the first investors in this new company.
• 1999: INA took over LuK GmbH, making it part of their group.
• 2002: Schaeffler bought FAG Kugelfischer AG, bringing the FAG brand into their family.
• 2003: INA, FAG, and LuK officially joined together to form the Schaeffler Group.
• 2008: The Schaeffler Group bought a much larger German company called Continental AG.
• 2009: The CEO of Schaeffler Group, Dr. Jürgen M. Geissinger, became the president of the World Bearing Association.
• 2011: The company changed its name to Schaeffler AG and Schaeffler Technologies AG & Co. KG.

Recent Developments and Innovations

• 2013: Klaus Rosenfeld became the acting CEO, while also being the Chief Financial Officer.
• 2013: Schaeffler developed a new electric axle for vehicles. This was a step towards electric cars.
• 2014: Schaeffler opened its first factory in Russia. This factory makes parts for car companies and trains.
• 2015: Schaeffler offered its shares to the public for the first time. This means people could buy parts of the company.
• 2016: The company started a new plan called "Mobility for tomorrow." They expanded factories in the U.S. and China. They also opened new offices in Thailand and Russia.
• 2018: Schaeffler used electric motors from a race car to test new ideas for electric vehicles.
• 2018: Schaeffler bought a company called Paravan. This company works on "drive-by-wire" technology. This helps develop cars that can drive themselves.
• 2023: Schaeffler and Vitesco Technologies Group AG signed an agreement to combine some of their businesses.

Schaeffler Family Ownership

The Schaeffler family owns a large part of the Schaeffler Group. In 2008, they agreed to buy Continental AG. Over time, the family has changed how much of Continental they own. Currently, the family owns about 46% of Continental shares. They also own almost half of Vitesco Technologies.

See also

In Spanish: Grupo Schaeffler para niños

• Georg F. W. Schaeffler