SCHAEFFLER TO SELL PLANT IN MBO

Management at Shaeffler’s Hamm plant have signed an agreement with the company to take over the facility, which mainly produces friction linings for dry clutch plates.

Negotiations completed on Friday, and the newco is effective as of this morning (Monday July 1)

The deal, for which terms have not been disclosed and is not subject to regulatory approval, will safeguard 110 jobs at the plant. The resulting new company will be called Inno Friction GmbH.

READ: NEW DIVISION AND DATA FIRM FOR SCHAEFFLER

The manager of the Hamm plant and future managing director of the new company, Dr. Christian Spandern, commented: “My fellow directors – Dr. Vera Rührup, Frank Steinhauer and Stefan Löhr – and I are pleased at this opportunity to lead the company in Hamm into a new phase of development that will serve our employees, customers and suppliers well. The new company will continue its business relationships unchanged and will continue to work closely with the Schaeffler Group. At the same time, we see further potential to grow the Hamm location, particularly its industrial business.”

Published by GregWhitaker

Editor of CAT Magazine and an experienced motoring journalist

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