Merger of Schaeffler and Vitesco Technologies completed
The Schaeffler Group and Vitesco have completed their merger on 1st of October 2024 to become a Leading Motion Technology company. The cultural and technological fit of the two companies ensures our continued success. With four market-leading divisions, spanning the entire motion value chain, Schaeffler can build on a strong balance sheet and the necessary scale to offer a comprehensive product portfolio to address a wide range of customer needs.
The combined entity generates annual revenue of around €25 billion, employs a workforce of some 120,000, and serves its customers from more than 44 Research & Development Centers and more than 100 production sites in all the world’s major regions.
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Schaeffler and Vitesco Technologies
What’s behind the integration? Objectives and strategic motivation at a glance.
With the merger of Schaeffler and Vitesco Technologies we combine the innovative and operational strength of both companies. What unites us is a shared pioneering spirit. The motion technology company will globally occupy a leading position in their markets with long-term benefits for all stakeholders.
Convincing strategic rationale
- The merger will create a high-growth organization and will lastingly improve Schaeffler’s competitiveness by combining highly complementary solutions and technologies.
- Together Schaeffler and Vitesco Technologies will make motion more efficient, intelligent, and sustainable, securing a strong competitive edge for the future. Customers benefit from the combined innovation potential of both companies and from the future product portfolio and services offered by the four divisions in all major regions of the world.
The combined company
- Schaeffler will consist of four focused divisions: E-Mobility, Powertrain & Chassis, Vehicle Lifetime Solutions and Bearings & Industrial Solutions. This offers customers a seamless innovative product range that encompasses ten customer sectors.
- In the merger, the two companies combine their innovative strength, creating a future driven, innovative, and agile working environment with new opportunities for their employees. The new company and its workforce will equally benefit from the joint culture of innovation and a values-led family company with a long history.
The process of the merger
- Key stakeholders have signalled their continuous support for the integration. After the Annual General Meetings in April 2024, at which the shareholders of both companies approved the merger of Vitesco into Schaeffler, the first day as a combined company lies within reach.
- A strong common value base is the cornerstone and the baseline of the merger.
Stronger together around the world
Many faces of our diverse and vibrant organization come together under one integrated Schaeffler brand.
Benefits for both sides
What opportunities arise from the merger of Schaeffler and Vitesco Technologies? A look at the expected benefits, synergies, and future positioning.
Innovative strength
Linked by a shared pioneering spirit, Schaeffler and Vitesco Technologies have created cultures that fosters technologies and innovations and have a strong focus on sustainability. In the merger, the two companies combine their innovative strength for long-term value creation.
Synergy
The merger offers the unique opportunity of numerous benefits and immense potential for added value. Overall, synergies amounting to €600 million per year are expected.
Market reach
The four divisions of the combined company will each occupy a leading position in their markets. The regions will complement these with a structured local customer focus and enable targeted action in promising growth markets.
Sustainability
Both companies share a strong focus on sustainability. Sustainable action will continue to characterize the corporate culture of the listed family business. The merger marks a significant step in making motion sustainable while uniting sustainability and profitability.
Customer focus
Through a shared dedication to customer satisfaction and excellence, Schaeffler and Vitesco Technologies remain committed to offer highly complementary technologies and solutions that stand out for their quality, in-depth system knowledge and manufacturing excellence. The technologically leading divisions and strong regional organizations ensure a focus on customers and their needs.
Company culture/ Strong employer
The new company will create attractive career opportunities for employees, especially in future-oriented areas of technology and regions, as well as long term professional development and perspectives. As a family company rich in tradition, Schaeffler is synonymous with responsible business practices, stable corporate development, and a pro-actively, collectively shaped corporate culture.
Solutions
What will the future product range look like? The four divisions and their complementary technologies and solutions summarized.
- Establish a leader in e-mobility with best-in-class technologies and strong product portfolio
- High-growth business supported by large orderbook
- Managed for profitable growth with margin improvement
- Maximize value with conventional powertrain and capture profitable chassis growth
- Mature powertrain business, plus chassis growth opportunities
- Managed for value generation, margin, and free cash flow
- Develop a global integrated platform provider addressing customer needs along the entire vehicle lifecycle
- Growth business with high margins and low capital intensity
- Managed for profitable growth and free cash flow
- Build the leading global Bearings & Industrial Solutions company operating in four market clusters
- Growth business with clear margin improvement pathway
- Managed for value generation, margin, and free cash flow
Further information
Where can I find more content on the integration of Schaeffler and Vitesco Technologies? Further information on events, publications and contact options.
Dates & Events
2024-08-06
Schaeffler First Half Results 2024
2024-08-13
Vitesco Technologies publication of the interim report for H1 2024
Q4 2024
DAY 1
2024-11-05
Schaeffler Nine Month Results 2024
2024-11-14
Vitesco Technologies publication of the quarterly statement for Q3 2024
Links & Publications
- Information about the announced launch of a public tender offer for all outstanding shares of Vitesco Technologies Group AG
- Schaeffler's corporate strategy “Roadmap 2025”
- Press releases of Schaeffler Group
- Schaeffler annual report 2023
- Vitesco Technologies annual report 2023
- Schaeffler online sustainability report 2023
- Vitesco Technologies sustainability report 2023
Contact
Are you a journalist, blogger, online influencer or any other media professional and have questions about Schaeffler and Vitesco Technologies? You will find the right contact person in our media contacts.
For all other inquiries, please use the general contact form.