Inauguration of new expanded manufacturing facility of Schaeffler Group

Further to the announcement made on August 30, 2017 and following clearance of the transaction by the key stakeholders and relevant regulatory authorities, Schaeffler India Ltd (BSE: 505790, NSE: SCHAEFFLER) (Formerly FAG Bearings India Ltd) announced the successful completion of the merger of INA Bearings India Private Limited ("INA India") and LuK India Private Limited ("LuK India") with Schaeffler India Limited effective October 22, 2018. The combined entity is one of the leading Indian Automotive and Industrial supplier with over INR 41.0 billion in revenues and around 3,000 employees.

Schaeffler Group, a leading global Automotive and Industrial supplier, also inaugurated a new production hall at its state-of-the art facility in Pune marking the "One Schaeffler" entity. The new production facility will boost local manufacturing capabilities of Schaeffler Group in India. It will manufacture engine and transmission components, serving the domestic and export markets.

The facility was inaugurated by Georg F. W. Schaeffler - Chairman of the Supervisory Board and Klaus Rosenfeld - CEO, of Schaeffler AG; Avinash Gandhi - Chairman of Board, Schaeffler India Limited and Dharmesh Arora - CEO of Schaeffler India Limited, in presence of other Board members of Schaeffler India Limited.

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