ERJ staff report (RD)
Hanover/Herzogenbaurach, Germany – Continental AG and the Schaeffler Group, its partner and largest shareholder, have agreed a purchasing operation, which will be the first large joint project between the two companies, a 3 April statement said.
According to the statement, Continental and Schaeffler have combined annual purchases of goods and services of nearly Euro 27 000 million. The purchasing operation, the statement said, is targeting a savings potential of Euro 350-400 million between 2009 and 2011.
â€œContinental and the Schaeffler…