Continental and Schaeffler Group push cooperation through joint purchasing

• Cost benefit of up to €400 million in three years
• Cooperation makes better purchasing conditions possible and creates a stronger supplier network
• New opportunities in make-or-buy decisions

Through a global purchasing agreement, the automotive supplier Continental and the Schaeffler Group have started the first large joint project in the history of cooperation between the two companies.The purchasing cooperation was contractually agreed as of March 27, 2009. Its goal is to optimize cost of materials and achieve an annual triple-digit million benefit through access to the steel markets and component suppliers as well as investments and non-manufacturing materials.

Both partners’ purchasing expertise is complementary

Common strategy, equal quality standards, improved cost structures

High potential for savings in non-manufacturing materials

The Schaeffler Group - with its INA, FAG, and LuK brands - is both a leading global supplier of rolling bearings as well as a renowned supplier to the automobile industry. With 66,000 employees in over 180 locations around the world, Schaeffler manufactures and sells precision components and systems for automotive, industrial, and aerospace applications. In 2008, the Schaeffler Group’s revenues totaled €8.9 billion, 60 percent of which were generated in the Automotive division.