Herzogenaurach (dpa / lby) - Schaeffler wants to buy a drive manufacturer with the Ewellix Group and thus expand its industrial division. The automotive and industrial supplier from Herzogenaurach in Franconia will pay around 582 million euros for the subsidiary belonging to the investment company Triton, as Schaeffler announced on Sunday. "This value does not include Ewellix's net debt of around 120 million euros to be assumed by Schaeffler." The purchase should be completed by the end of the year, subject to approval by the authorities.
Based in Gothenburg, Sweden, Ewellix was formerly part of the SKF Group and employed around 1,200 people as of June 30. For this year, the company expects sales of more than 250 million euros.
