Schaeffler Merges Operations in India
Bearings supplier Schaeffler AG is merging its INA, LuK and FAG operations in India in a bid to simplify operations, cut costs and accelerate growth.
The move will combine INA Bearings India and LuK India with the already-listed FAG Bearings India, which was renamed Schaeffler India Ltd. last month. Schaeffler expects to complete the integration, which will not affect the size of the workforce there, in 12 months.
Shaeffler AG current owns 51% in Schaeffler India and 100% of INA and LuK. After the merger, the company’s stake in Schaeffler India will rise to 74%.
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Last year Schaeffler’s Indian operations generated €13.4 billion ($15.9 billion) in revenue. The company employs some 3,000 people who make ball bearings, roller bearings and precision parts for engines, transmissions and chassis systems for automotive and industrial applications.
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