Acquisition of the World’s Largest Independent Clutch Lining Manufacturer

Resource from: CBCC Likes:2960

Mar 17,2008

The Schaeffler Group extends its expertise and international presence in the field of technologically advanced clutch linings. After the agreement of the antitrust authorities, the purchase of the clutch lining manufacturer Raybestos initiated at the end of January by the Schaeffler Group was finalized on February 29, 2008. The acquisition of the world’s largest independent clutch lining manufacturer will enable the Schaeffler Group to further develop its expertise in technologically advanced clutch linings and friction technology and open up new opportunities for growth with its now extended product portfolio. In particular, the acquisition includes the German company Raybestos Industrieprodukte GmbH, in Morbach (Rhineland-Palatinate), as well as the Chinese company Raybestos Friction Products Ltd. in Suzhou, China. The companies belonged to the American Raytech Corporation and generated sales of approximately EUR 50 million (FY 2007) with around 550 employees. All employees and the management team including the managing director, Alfred Klee, have been taken on. The backdrop to the acquisition is the development of LuK’s activities in clutch linings following increasing demands on linings caused by increasing torques as well as transmission concepts with dry twin clutch transmissions. The latter generates, for example, reductions in fuel consumption in the two-digit percent range compared with conventional automatic transmissions. With the LuK brand, the Schaeffler Group is one of the world’s leading clutch manufacturers. Today, one in four cars worldwide has a LuK clutch. LuK, LuK Friction and Raybestos’ customers include several renowned automotive manufacturers.

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