In the Weber Group, Schaeffler has found a buyer whose portfolio and expertise in the field of drive components is a perfect match for the expertise of Schaeffler Motorenelemente AG & Co. KG.

The Weber Group manufactures drive components for passenger cars, commercial vehicles, and recreation vehicles and is one of the world's leading suppliers of vehicle components.

Prof. Dr. Peter Pleus, CEO Automotive at Schaeffler AG, said: "We are pleased that, with the Weber Group, we have found a buyer who will continue and expand activities at our Magdeburg plant in the interest of our customers and our employees. This is also important for us, since Schaeffler Motorenelemente AG & Co. KG will remain a supplier to the Schaeffler Group in the future, even after it becomes part of the Weber Group."

The closing of the transaction is expected for the 1st quarter of 2017. It has been agreed that the details of the transaction will be kept secret.

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