In order to maintain viability in the capital markets, the German company Schaeffler family is considering changing the nature of the company, from a limited liability company into a joint-stock company.
Schaeffler Group mainly produces ball bearings and double-clutch, last year's sales of $ 12.8 billion Schaeffler is Continental's largest shareholder.
Vice President Maria Schaeffler Schaeffler Group, said: "To be able in the future with a broader strategic choice for the whole company and the interests of all employees, we decided to set up joint-stock company, the new company will be set up in October, but we have not good public offering plan. "
Maria Schaeffler's son, Georg FW Schaeffler Schaeffler Group President, said: "After the establishment of joint-stock company in the capital market will have greater flexibility and transparency will help the company's long-term development."
