Posted to News on 1st Dec 2021, 00:00
Schaeffler Group celebrates 75th anniversary
Schaeffler is celebrating its 75th anniversary, and has established the Schaeffler Foundation to mark the occasion, emphasising the social responsibility of the Schaeffler Group and its family shareholders.
The Schaeffler Foundation will receive an initial foundation capital of 3 million euros, which will be increased each year through additional donations. The Foundation will be active worldwide and concentrate primarily on three focus areas: climate and environmental protection; research and science; and education, qualification and equal opportunity.
Wilhelm Schaeffler and his brother Georg Schaeffler laid the foundation for today’s company when they founded Industrie GmbH in Herzogenaurach in 1946. This marked the starting point of a company that today employs more than 83,900 employees at around 200 locations in more than 50 countries.
From 1950 onwards, the company’s rapid rise was made possible by the cage-guided needle roller bearing developed by Georg Schaeffler, which revolutionised motion and mobility in the automotive and industrial sectors. This invention laid the foundation for the company’s continuing global success. In 1965, the Schaeffler brothers decided to invest in LuK Lamellen und Kupplungsbau in Bühl (Baden), where the Automotive Technologies division is now based. The company became a technological leader with innovative products such as the diaphragm spring clutch, dual-mass flywheel as well as a variety of engine components. Since 1999, LuK has been a fully owned entity of Schaeffler.
In 2001, Schaeffler took over FAG Kugelfischer Georg Schäfer AG in Schweinfurt, making Schaeffler the world’s second-largest manufacturer of rolling bearings. The successful IPO of Schaeffler AG followed in 2015. Today, the three product brands INA, LuK, and FAG are united under the Schaeffler corporate brand.
“Schaeffler’s pioneering spirit has always been crucial to the success of the company,” explains Georg FW Schaeffler, family shareholder and chairman of the supervisory board of Schaeffler AG. Even throughout its challenging phases, the company has demonstrated a high degree of resilience and a constant willingness to view profound change as an opportunity. As shareholders, we are particularly aware that this success, spanning several decades, is primarily driven by our committed employees around the globe, as well as our customers and suppliers.”
