Clean Break: the company completely halting Russian engagements or exiting Russia

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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.

 
 
 
 
 

Clean Break: the company completely halting Russian engagements or exiting Russia

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Revenue(RF), mln.USD
29
Assets, mln.USD
31
Capital, mln.USD
26
Glob.Revenue, mln.USD
14644
Staff
71
Taxes, mln.USD
2
The Company Statement
March 10, 2023

Stop 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.

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Statements Archive
March 11, 2023Schaeffler sells business in the Russian Federation to an Austrian businessman connected to Deripaska - media
May 09, 2022Schaeffler Group starts 2022 with good first quarter and publishes new full-year Guidance
April 25, 2022https://www.marketwatch.com/story/schaeffler-suspends-full-year-guidance-for-2022-271646725431
March 11, 2022We're suspending our guidance as global volatility rises, says Schaeffler CEO
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