Expansion into the military Schaeffler wants to enter the defence industry

Source: dpa 1 min Reading Time

The automotive and industrial supplier Schaeffler is examining whether a major entry into the defence industry could be worthwhile, as dpa learned today.

Armaments issue! Although the Schaeffler Group is already somewhat active in the armaments sector, it now wants to check whether the company would benefit from a little more.(Image: Schaeffler)
Armaments issue! Although the Schaeffler Group is already somewhat active in the armaments sector, it now wants to check whether the company would benefit from a little more.
(Image: Schaeffler)

Many companies are currently eyeing the defense sector. Schaeffler now wants to do the same: "We are in the process of establishing new growth areas! The main focus is on protection and defense. We are working intensively on this," Schaeffler CEO Klaus Rosenfeld told dpa. The Schaeffler decision-maker had already indicated some time ago that the company could certainly supply components for the defense industry. However, modern defence technology depends very much on whether it is possible to combine hardware and software. Schaeffler is currently already supplying defense-related products, albeit only on a small scale. This is part of its aviation business in the USA. The figures for the first half of the year were also presented today. 

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