Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit Completed
Schaeffler Technologies AG & Co. KG, also known as Schaeffler Group, is a German manufacturer of rolling element bearings for automotive, aerospace and industrial uses. It was founded in 1946 by brothers Dr. Wilhelm and Dr.-Ing. E. h. Georg Schaeffler.
Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exited Exit CompletedStop deliveries to Russia but continued manufacturing in Russia. German supplier of automotive and industrial products Schaeffler is selling its business in Russia to Austrian businessman Siegfried Wolff, who is a long-time business partner of sanctioned Russian oligarch Oleg Deripaska. Russian President Vladimir Putin signed an order that will allow PromAvtoKonsalt LLC to acquire the Russian business of the German auto parts manufacturer Schaeffler. German auto supplier Schaeffler has sold its Russian business to a company called PromAvtoConsult, Russian company filings showed, the latest Western company to exit the country since Moscow's February 2022 invasion of Ukraine.