Schaeffler completed the merger with Vitesco Technologies.

Schaeffler, a manufacturer and supplier of innovative parts to the automotive and industrial sectors, completed the merger with Vitesco Technologies, a German automotive supplier for drivetrain and powertrain technologies. “The signing of the merger agreement marks another important milestone in the implementation of the transaction. Furthermore, preparations for the integration of Vitesco into Schaeffler are making good progress. We are confident that we will complete the transaction as planned in the fourth quarter and successfully realize our plan to establish a leading Motion Technology Company together with Vitesco in the best interest of our customers, shareholders, and employees,” Klaus Rosenfeld, Schaeffler CEO.