The Schaeffler Group reaches its takeover target at Continental

Resource from: CBCC Likes:2940

Sep 04,2008

* Share in Continental AG reaches 48.32% after the end of the acceptance period * Talks about cooperation projects are to start as soon as possible * Schaeffler Group will support Continental management’s plans for the integration of VDO * Schaeffler sees considerable value potential for Continental AG At the end of the deadline for accepting the offer, the Schaeffler Group, Herzogenaurach, has extended its share in Continental AG to around 48.32%. “This result is a great success for us. We have reached our target of gaining a strategic shareholding of more than 30 percent in Continental AG. This means that talks can begin with Continental as soon as possible about cooperation projects to realize market opportunities for both companies by consolidating expertise in development and innovation. Together Schaeffler and Continental can now develop solutions for the technological challenges of the cars of the future”, said Dr. Juergen M. Geissinger, President and CEO of the Schaeffler Group. The development of the market position in key future areas of the automotive industry means a considerable potential for value for Continental AG. At the same time, the Schaeffler Group will support Continental’s management with the rapid integration of VDO, which is in both companies’ interests.

()

【CBCC News Statement】
1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.

Add to My Favorites

[Close the window]

Previous Rexnord Names Darryl Mayhorn President, Aerospace Group
Next Aviation Bearings Plant is Increasing Bearing Cage Protection

BRIEF INTRODUCTION

Cnbearing is the No.1 bearing inquiry system and information service in China, dedicated to helping all bearing users and sellers throughout the world.

Cnbearing is supported by China National Bearing Industry Association, whose operation online is charged by China Bearing Unisun Tech. Co., Ltd.

China Bearing Unisun Tech. Co., Ltd owns all the rights. Since 2000, over 3,000 companies have been registered and enjoyed the company' s complete skillful service, which ranking many aspects in bearing industry at home and abroad with the most authority practical devices in China.