Schaeffler Group is a wrong decision

         FAG backing bearings distributor in China Editor: a person to be a wrong decision could make in his life towards another result, of course, a group to be a wrong decision also makes this group toward the wrong end, it is the German FAG Bearing Group concerned with the impact of the financial crisis last year, Schaeffler (Germany FAG bearings) Continental Group acquired the wrong decisions, resulting in the Schaeffler Group into financial difficulties into a sluggish state, half political reasons, half is too much debt. Here is our distributor from Germany, FAG Schaeffler Group headquarters learned the news a wrong decision.
   
          We learned from the Roller bearing in Germany FAG bearings, Schaeffler Schaeffler Group Nvzhang lady (Maria-Elisabeth Schaeffler) In an interview with "Der Spiegel" interview, said it was "our mistake" and misjudged the situation. Continental tire company had to admit that the acquisition was a mistake, and should feel regret. Schaeffler lady that her family business is a victim of the financial crisis. In addition, her son George (Georg Schaeffler) External also admitted that the family business is not estimated to last year's financial crisis is so severe, otherwise we will not borrow so much debt to the banks for the acquisition of Continental tire company.

          According to statistics, the Schaeffler Group as a result of the acquisition of Continental's bank debt owed ​​has reached 12 billion euros. Not long ago, the Schaeffler Group has formally apply to the state aid, in an interview with Mrs. Schaeffler still stressed the need to seek help from the state. Currently, the Group needed 6 billion euros of funds used to repay bank debt, otherwise Schaeffler family could lose control of the entire group.