Schaeffler delays merger with Conti unit

Automotive News report (AN)

Frankfurt – Indebted German car parts group Schaeffler has put plans to merge its auto parts business with that of larger rival Continental on hold to deal with more pressing problems, a German daily reported.

Ball bearings maker Schaeffler has enough on its plate to deal with because of the amount of its debt, German daily newspaper Handelsblatt reported today.

“If synergies can be had without a major merger, then it would not put a strain on the organization,” the paper quoted…

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