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Schaeffler acquires Paravan Technologie GmbH
Auto Components India
|November 2022
Schaeffler Technologies AG & Co. KG and Arnold Verwaltungs GmbH signed a basic agreement in which Schaeffler Technologies AG & Co. KG will acquire Arnold Verwaltungs GmbH's retaining 10 per cent stake in the joint venture company Schaeffler Paravan Technologie GmbH & Co. KG (Schaeffler Paravan).
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Schaeffler Technologies AG & Co. KG currently owns 90% of Schaeffler Paravan and will own the company entirely once the transaction is completed. The firms have agreed not to reveal any financial information. Schaeffler will take over Schaeffler Paravan's 70 employees a
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