IFT to become subsidiary of Schaeffler

Schaeffler increases share from 49 to 100 percent / planned integration in company development services provider Schaeffler Engineering
(PresseBox) (Herzogenaurach, ) IFT Ingenieurgesellschaft Triebwerkstechnik mbH will become a 100% subsidiary of Schaeffler AG on July 1, 2013 with a view to integrate the company into Schaeffler Engineering GmbH at a later date.

The parent company's plans involve initially increasing its share in IFT from 49 to 100 per-cent. The relevant contract was signed on March 19, 2013. "It was my priority to secure the continued existence of the company and above all the 69 jobs we have here in Clausthal-Zellerfeld", says Christian Degenhardt his decision. "In Schaeffler, I found the right partner at the right time to make sure this was the case and to continue IFT's success story". Schaeffler has been co-owner of the IFT since 2001 and the engineering service provider generated sales of 9 million euros in 2012.

"The expertise and experience of IFT's employees, for example in chain and valve trains, are a real benefit for Schaeffler. The business model of IFT will remain unchanged as a 100% subsidiary, which means Christian Degenhardt and his team will continue to operate independently on the market and even increase collaboration with external customers in addition to working on company projects", Prof. Peter Gutzmer explains the company's plans for the new subsidiary. He emphasized that the acquisition of the shares by Schaeffler will not have any effect on personnel and Christian Degenhardt will remain managing director of IFT. The company's location in Clausthal-Zellerfeld, where the com-pany operates several engine and component test stands in its development center, will also remain in operation.

The parent company is planning to integrate IFT's employees and its range of services in its development service provider Schaeffler Engineering. "The expertise at Schaeffler En-gineering in mechatronics and IFT's knowledge of mechanical systems in engines compli-ment one another perfectly", says Rolf Laufs, CEO of Schaeffler Engineering. "This ena-bles us to open up additional business fields together and thus to further improve the positioning of our services and products on the market. Our companies also have a similar mentality, which means we're already looking forward to working together on joint projects and are looking forward to working more closely with each other".

By merging both subsidiaries, the parent company is seeking to actively support the growth plan of its engineering service provider. With the repositioning of Schaeffler Engineering, Dr. Juergen M. Geissinger, CEO of Schaeffler AG, emphasizes "that the planned combination of IFT's testing expertise and Schaeffler Engineering's development expertise signifies a further significant step in the growth plan of our own engineering service provider towards becoming a systems development partner. We are merging two successful companies in order to make them even more successful together and in doing so, we are bundling the engineering know-how within the company more effectively. The integration of IFT into Schaeffler and later into Schaeffler Engineering is therefore a win-win situation for all involved".

About IFT

IFT Ingenieurgesellschaft für Triebwerkstechnik is a service provider for the automobile, supplier and lubricant industry based in the university town of Clausthal-Zellerfeld, Germany. As a development partner, IFT has been offering engineering and services for mechanical systems in engines and engine dynamics as well as engine components since 1990. In addition to standardized test methods, the company offers individual solutions with in-house development of test stands and testing methods. In the development phase of new automobiles, motorcycles and other motorized vehicles and devices, IFT's employees develop components and test the function and wear of these components on specially-developed test stands.

About Schaeffler Engineering

Schaeffler Engineering GmbH, a 100% subsidiary of Schaeffler AG, is an international provider of mechatronic system development services in the drive train, vehicle testing, and mobile measuring technology. The company's range of services also includes the analysis and optimization of vehicle acoustics and the development of conven-tional and alternative transmission and drive systems. The company's core expertise ranges from rapid control prototyping, designing customer-specific hardware and software, series applications, calculation, designing and developing prototype and volume-production applications, measuring technology integration, acoustics and vibration analyses, and supplying small production runs with volume production support.

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