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Schaeffler

Top 50 Family Business Leaders 2016

May 6, 2016

From Blackmores to Wah Kwong Maritime Transport – we’ve scoured the globe for the A-Z of top family business leaders in 2016

Whether its family members taking over top leadership positions, or businesses who’ve beaten Apple in corporate reputation rankings, we’ve got the leaders steering their family businesses in innovative and interesting directions

Family business round up: Schaeffler, Lotte, Lundin

October 9, 2015

Schaeffler finally lists on stock exchange following delays due to VW scandal; Lotte family feud goes to court; Lundin tries to woo investors on merger.

Schaeffler debuts on stock market following delays

Family-owned car parts company Schaeffler saw its shares rise 8% on its market debut on Friday.

The German family business delayed the IPO one week due to the emissions scandal at Volkswagen, which accounts for more than 10% of group sales.

The company had also scaled back the size of the IPO, raising €938 million in the listing where it had initially planned to raise €2.5 billion.

FB Roundup: Schaeffler, Hyundai, and Lindt

September 25, 2015

Schaeffler prepares for initial public offering; Hyundai Motor’s heir apparent lays groundwork for succession; and Lindt’s teddy bear beats Haribo’s gummy in court battle

Schaeffer prepares for initial public offering

German industrial group Schaeffler, owned and controlled by Maria-Elisabeth Schaeffler-Thumann and her son Georg, has revealed plans to place 166 million new and existing ‘non-voting’ common shares with institutional investors.

Family Business Roundup: Belk, Schaeffler, and New World Development

August 27, 2015

Belk department stores sold for $3 billion; Schaeffler posts double-digit revenue increase; and Chinese billionaire Adrian Cheng to build 17 shopping centres

Belk department stores sold for $3 billion

American department store chain Belk, owned by the eponymous family for more than 125 years, has been acquired by private equity firm Sycamore Partners in a deal valued at $3 billion.

According to a company statement, Sycamore will pay $68 in cash for every share, in what will be the biggest ever deal for the New York-based firm.

Family business roundup: Wendel, Carlson, Inditex up, INM down

March 22, 2012

It’s been a mixed week for family businesses across the world, with some, including Wendel, Inditex and Carlson, reporting strong financial results, while Independent News & Media saw profits hit by tough trading conditions.

Wendel, the French investment company controlled by the eponymous family, said on 22 March that revenues jumped 17.5% in 2011 to €5.95 billion, from €5.07 billion in 2010.

Schaeffler family increases stake in Continental

March 28, 2011

Family-owned industrial group Schaeffler moved to bolster its financial strength, with the announcement on 28 March that it plans to increase its direct stake in car parts maker Continental, which it acquired in 2008, while also reducing its debt through the sale of shares.

Transparency comes to family businesses

October 6, 2010

Family businesses are opening up their books for scrutiny – or at least two are: Ikea and Schaeffler, writes David Bain.

Swedish Ikea, one of the more secretive family businesses, decided to publicly disclosed its profit for the first time in its 67-year history.

Mikael Ohlsson, Ikea's chief executive, said in early October that the decision was taken in response to demands from employees and suppliers for more information.

Schaeffler opens up with interim results announcement

September 2, 2010

Saddled with huge debt and in an effort to attract outside investment, German family-controlled industrial group Schaeffler has announced its first set of interim results to the outside world.

On Wednesday the group announced that sales rose 31% in the first half of 2010 to €4.6 billion.

Earnings grew at even faster rate to €739 million – up from €108 million over the same period last year – following a big turnaround in the automobile sector on which much of the group's business relies.

Schaeffler family closer to dream

August 4, 2010

When family-controlled industrial group Schaeffler shocked world markets by announcing it was launching a hostile takeover bid for tyre-maker Continental in 2008, few gave them much hope of pulling it off, writes Marc Smith.

Schaeffler, which was set up in 1946 when brothers Wilhelm and Georg Schaeffler started rolling bearings business INA, had a turnover of €9 billion compared with Continental's €26 billion.

Family companies see faster than expected recovery

April 28, 2010

Further evidence that businesses are beginning to turn the corner has been provided three family companies this week, all of which have reported stronger than expected growth for the first quarter of 2010.