Schaeffler Headquarter - Herzogenaurach. Foto: Schaeffler AG

Vitesco merger with Schaeffler AG completed

The Schaeffler Gruppe and Vitesco have successfully completed their merger effective 1 October 2024 to create a leading motion technology company. With the new set-up, the Schaeffler Group will divide its business activities into four focussed divisions, which will take leading positions in their respective markets: E-Mobility, Powertrain & Chassis, Vehicle Lifetime Solutions, and Bearings & Industrial Solutions. In addition, the Schaeffler Group will divide its business into four regions – Europe, Americas, Greater China and Asia/Pacific – which will continue to operate as before.

Following the completion of the merger, the integration of Vitesco and Schaeffler will now begin, which has already been intensively prepared by working groups of both companies in recent months. In addition to the realisation of sales and cost synergies, the implementation of the integration includes the consolidation of processes and IT applications, the establishment of a new sales and customer support model for major customers for whom products and services from several divisions are developed and supplied, as well as all activities for the integration, streamlining and consolidation of existing legal structures in the countries in which Schaeffler and Vitesco previously operated with separate companies. In addition to Europe, these include countries such as China, Mexico, Korea and India.

In the future, the Schaeffler Group will operate uniformly under the corporate brand ‘Schaeffler’. Based on the corporate colours white and green and the proven claim ‘We pioneer motion’, the product brands that currently exist alongside the Schaeffler brand will be gradually transferred to the corporate brand. Following the merger, the Schaeffler Group will retain its legal domicile in Herzogenaurach, where the corporate headquarters will also be located.

The combined company generates annual sales of around 25 billion euros, employs around 120,000 people and serves its customers from more than 44 research and development centres and more than 100 production sites in all major regions of the world.

 

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06.10.2024   |  

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