Schaeffler Supports Management Buyout for Hamm Location

Wind Industry Profile of

Management buyout will enable plant to continue operating / Management team sees good prospects for stand-alone business / New company to be known as INNO FRICTION GmbH / Implementation of RACE program to continue

The automotive and industrial supplier Schaeffler and the management team of Schaeffler Friction Products Hamm GmbH signed an agreement last Friday under which the management of Schaeffler Friction Products Hamm will take over the ownership of the company, effective today. The management buyout will save all 110 jobs at the Hamm location. The parties have agreed not to disclose the purchase price. The sale is not subject to competition regulatory approval and the transaction is expected to be completed in the near future. The resulting new company will be named INNO... ... More: Official Press Release Schaeffler

Keywords:

Schaeffler, Hamm, plant, MBO, management, Inno Friction GmbH, wind energy, friction, automotive, Germany