Schaeffler Group further expands in Asia

The Schaeffler Group will invest around EUR 300 million (US$389 million) in Asia during the next few years, in order to systematically further develop its existing operations there. The investment will be used to develop the existing eleven manufacturing locations in China, India, Korea and Vietnam and on the other, manufacturing capacity will be expanded in China with two new factories for rolling bearings and engine and transmission components, and in India with one new manufacturing location. The objective of the investment is to gear the Schaeffler Group's products and services towards the increasing demand from its Asian customers. Construction of the new factories is to be completed by 2012. In addition, development locations in India and Japan are to be set up and expanded along with the existing large development locations in China and Korea. Dr. Juergen M. Geissinger, president, CEO, Schaeffler Group, emphasises the great importance of these investments. "Asia remains one of the regions in the world with the highest increases in growth and sales for us in the long term. The growth rates across all industrial segments have been enormous during the last few years. By expanding our existing manufacturing locations and constructing three new factories, we are strengthening our profile and our presence in the Asian economic region. "(the end)Adidas