Schaeffler Seeks Chinese Investors

Chinese state and private firms may take on a partial shareholding in debt laden Schaeffler AG. According to an article printed by German business magazine WirtschaftsWoche on June 27, the company has engaged in talks with several parties, including the Beijing city administration, regarding a share sale in order to bolster its short-term finances. Such a deal would give the Chinese access to the company’s know-how, technology and distribution channels, the magazine reported.

“We have always said that we would speak to potential investors,” a Schaeffler spokesman was quoted as saying.

Schaeffler already has a presence in China – it operates five production sites there plus a research and development centre in Shanghai. The company has more than three thousand China based employees.