Schaeffler has signed a contract with the Ceratizit Group for the acquisition of Ceraspin. Based in Livange, Luxembourg, Ceraspin has over 25 years’ experience in the development and production of ceramic products, the majority of which are processed into rolling elements for various bearing applications.
The bearings manufactured on the basis of this technology are used in a wide range of strategic growth areas, including wind energy, rail, aerospace, medical equipment, electrical engineering, and vacuum pumps for the semiconductor industry. Ceraspin has been a supplier to the Schaeffler Group since 2004. Under the purchase agreement, Schaeffler will acquire 100 percent of Ceraspin. The transaction is expected to be completed before the end of the fourth quarter and is subject to customary closing conditions. The parties have agreed not to disclose details of the transaction.