The sale of Schaeffler’s Russian business to the company ‘PromAvtoKonsalt’ has been approved, this is reported by the railway transport news portal Railway Supply.

Schaeffler - the German bearing manufacturer

The deal involves the acquisition of 100% of the shares of the Russian branch of the German Schaeffler in Ulyanovsk by the company.

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Registered in September 2022, the Moscow-based LLC ‘Promavtokonsalt’ is 100% owned by its CEO, Alexander Gorlov.

In 2014, the Russian platform of Schaeffler Group, LLC ‘Schaeffler Rus,’ launched serial production in the Ulyanovsk region.

The plant manufactures bearings for automotive and railway transport, as well as other auto components.

The investment in organizing production amounted to 2 billion rubles.

Photo: Schaeffler/schaeffler.com

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