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Schaeffler Group New state

On November 28th, Schaeffler Group, a global supplier of automotive and industrial products, signed a contract to acquire Elmotec Statomat Co., Ltd. (hereinafter referred to as “Elmotec Statomat”). Through the acquisition, Schaeffler will enhance its expertise in the field of motor manufacturing and further promote the realization of the electric drive strategy. The acquisition will be completed in the first quarter of 2019. The two sides reached an agreement and will not disclose the purchase price.

“Electric drive is one of the core areas of our future development. By acquiring Elmotec Statomat, Schaeffler will further expand its manufacturing capabilities in this field, accelerate the industrialization of the company's motor manufacturing, and eliminate the shortest remaining technology in rotor and stator production. Board. This marks another step in our electric drive strategy." - Mr. Klaus Rosenfeld, CEO of Schaeffler Group

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