Schaeffler Technologies AG & Co. KG, also known as Schaeffler Group, is a German manufacturer of rolling element bearings for automotive, aerospace and industrial uses before October 9, 2015, IPO in Germany. It was founded in 1946 by brothers Dr. Wilhelm and Dr.-Ing. E. h. Georg Schaeffler. In August 2008 the firm agreed to a staggered €12 billion acquisition of larger rival Continental AG, whereby Schaeffler would defer taking a majority stake until at least 2012. However, in 2011 Schaeffler sold off €1.8 billion worth of shares of Continental, reducing its stake from 75.1% to 60.3%. Currently, the company owns 46% of Continental shares. Schaeffler Group also owns the brands INA, FAG and LuK. In Germany, the main brands of the Schaeffler Group – INA, FAG and LuK – are marketed by Schaeffler Technologies AG & Co. KG and LuK GmbH & Co. oHG.
1905: On 29 July, the FAG brand is registered with the patent office in Berlin. The registered trademark FAG is an acronym for "Fischer's Automatische Gussstahlkugelfabrik," or "Fischer's Automatic Steel Ball Factory."
1939: Acquisition of Davistan AG, a Jewish founded textiles company.
1946: Brothers Wilhelm and Georg Schaeffler, both holders of Ph.D. degrees, found INA in Herzogenaurach.
1949: The needle roller cage, developed by Georg Schaeffler, makes the needle roller bearing a reliable component for industrial applications.
1965: LuK Lamellen und Kupplungsbau GmbH is founded in Bühl.
1999: INA takes over LuK GmbH
2002: Acquisition of FAG Kugelfischer AG, Schweinfurt.
2003: INA, FAG and LuK form the Schaeffler Group.
2008: Schaeffler Group buys the much larger Continental AG.
2011: Schaeffler Group becomes Schaeffler AG and Schaeffler Technologies AG & Co. KG
2013: On 4 October, an employee letter said "... Mr. Klaus Rosenfeld will take over as acting CEO in addition to his current responsibilities as Chief Financial Officer".
2013: The third generation of Schaeffler's electric axle, presented in Schaeffler's ACTIVeDRIVE, becomes a promising pilot production product.
2014: Schaeffler opens its first Russian plant in Ulyanovsk, from which it supplies high-quality products to both domestic and overseas automobile manufacturers as well as to the railway industry.
2015: Schaeffler successfully completes its initial public offering on October 9, 2015 under the motto "We share our success".
2016: The strategy "Mobility for tomorrow" is adopted. U.S. and China plants are expanded and a new facility is opened in Chonburi, Thailand along with a new office in Moscow, Russia.
During the 2008 merger, the company revealed that in World War II it had exploited thousands of slave labourers in its plants in German-occupied Poland. Around this time the director of the museum now standing at the site of the Auschwitz concentration camp claimed that after the war of human hair had been found at Schaeffler factories, and had been used in upholstery in its automotive products. The historian at Schaeffler denied this particular allegation.
