Schaeffler may transform into a joint-stock company

In order to maintain its viability in the capital market, Schaeffler, a German family-owned company, is considering changing the nature of the company from a limited liability company to a joint stock company.

Maria Schaeffler, Schaeffler Group Vice President, said: "In order to have a broader strategic choice in the future, for the benefit of the entire company and all employees, we decided to set up a joint-stock company. The new company will be established in October, but we have not yet Do a good job of public offerings."

Maria Schaeffler's son, Georg F, President, Schaeffler Group. W. Schaeffler said: "After setting up a joint-stock company, we will have more flexibility and transparency in the capital market, which will benefit the company's future long-term development."

The Schaeffler Group produces ball bearings and double clutches. Last year, sales reached 12.8 billion U.S. dollars. Schaeffler is the largest shareholder of the Continental Group.