Today, 1 October, Schaeffler has successfully completed the merger with Vitesco, that was announced almost a year ago. At the same time, the conversion of Schaeffler’s non-voting common shares into common shares with full voting rights was completed. With that, Schaeffler has successfully completed the transaction with Vitesco – as announced – in the fourth quarter of 2024.
Schaeffler AG published its results for the first quarter of 2024 today. Revenue for the first three months was 4,085 million euros and thus remained approximately flat with prior year at constant currency (4,152 million euros). Revenue declines at Bearings & Industrial Solutions division were offset by growth at the Automotive Technologies division and the Vehicle Lifetime Solutions division.
The global automotive and industrial supplier Schaeffler has appointed Christian Zeidlhack as the new President of its industrial business in Europe and CEO of its Central and Eastern Europe subregion. In his new role, Christian Zeidlhack is in charge of the Industrial division’s direct-customer and sales-partner business for the whole of Europe.
The automotive and industrial supplier Schaeffler has signed an agreement with an affiliate of Triton Fund V for the acquisition of the Ewellix Group. The purchase of the global manufacturer and supplier of linear technology components and systems, which is still conditional on regulatory scrutiny and approval, strengthens Schaeffler’s market position, particularly in the linear business.