Mexican Media Brands
Schaeffler Aims to Cut Debt by €1 Billion in 4 Years
Schaeffler AG tells reporters in Frankfurt it will use free cash flow to reduce its debt by about €250 million per year between now and the end of 2018.
#economics
Share
Schaeffler AG tells reporters in Frankfurt it will use free cash flow to reduce its debt by about €250 million per year between now and the end of 2018.
The precision bearing company is trying to reduce debt that ballooned to some €12 billion in 2008 after an ill-timed bid for a controlling stake in Continental AG. Schaeffler, currently Conti's largest shareholder, reports its debt at the end of last year was €5.8 billion
The closely held company reports its 2014 earnings before interest and taxes jumped 51% to €1.5 billion.
RELATED CONTENT
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
Is The V8 Dead?
Tougher fuel economy standards may be the end of most V8s.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data