The automotive and industrial supplier Schaeffler has signed a contract with the CERATIZIT Group for the 100% acquisition of Luxembourg-based CERASPIN.
With over 25 years’ experience in the development of premium ceramic products, the majority of which are processed into rolling elements for various bearing applications, CERASPIN products are key components in wheels, bogies and axles on rolling stock across Europe.
They are also used extensive in the wind energy, aerospace, medical equipment, electrical engineering, and vacuum pumps industries.
The acquisition of CERASPIN further enhances Schaeffler’s position in areas of strategic importance for the future. Dr. Michael Pausch, chief technology officer of Schaeffler’s Industrial division, said: “CERASPIN’s expertise in ceramic components for rolling bearings is of critical importance to Schaeffler. In acquiring CERASPIN, we are strengthening our supply chain, especially in Europe, while at the same time building up a strong position in high-value components for strategically important growth sectors.”
The transaction is expected to be completed before the end of the fourth quarter and is subject to customary closing conditions. The parties have agreed not to disclose details of the transaction.
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