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FB Roundup: Heineken, Continental, and Cargill

August 8, 2018

Heineken strikes Chinese expansion deal, Continental splits its business, and Cargill bulks up on meat, animal feed

Heineken strikes Chinese expansion deal

Heineken has taken a $3.1 billion stake in the parent company of China’s largest brewery, China Resources Beer, heating up competition among Western brewers breaking into the largest emerging market.

Heineken, the world’s second largest brewer and 50% owned by the founding family, currently runs at a loss in China, and the new acquisition will give it access to strong distribution networks, and the chance to acquaint Chinese drinkers with its products.

Schaeffler family increases stake in Continental

March 28, 2011

Family-owned industrial group Schaeffler moved to bolster its financial strength, with the announcement on 28 March that it plans to increase its direct stake in car parts maker Continental, which it acquired in 2008, while also reducing its debt through the sale of shares.

Schaeffler opens up with interim results announcement

September 2, 2010

Saddled with huge debt and in an effort to attract outside investment, German family-controlled industrial group Schaeffler has announced its first set of interim results to the outside world.

On Wednesday the group announced that sales rose 31% in the first half of 2010 to €4.6 billion.

Earnings grew at even faster rate to €739 million – up from €108 million over the same period last year – following a big turnaround in the automobile sector on which much of the group's business relies.

Schaeffler family closer to dream

August 4, 2010

When family-controlled industrial group Schaeffler shocked world markets by announcing it was launching a hostile takeover bid for tyre-maker Continental in 2008, few gave them much hope of pulling it off, writes Marc Smith.

Schaeffler, which was set up in 1946 when brothers Wilhelm and Georg Schaeffler started rolling bearings business INA, had a turnover of €9 billion compared with Continental's €26 billion.

Family companies see faster than expected recovery

April 28, 2010

Further evidence that businesses are beginning to turn the corner has been provided three family companies this week, all of which have reported stronger than expected growth for the first quarter of 2010.

New Continental chairman appointed to complete Schaeffler reshuffle

October 20, 2009

Wolfgang Reitzle has been appointed the new chairman of the Supervisory Board at Continental AG, the car parts manufacturer taken over last year by family-owned Schaeffler KG.

"With this strong team of managers we are in an excellent position to meet the challenges Continental AG now faces," said Marie-Elizabeth Schaeffler, head of the Schaeffler family and Continental board member, in a statement released yesterday.

Schaeffler family turns to former Ford and BMW executive

September 10, 2009

Family-controlled Schaeffler Group has chosen one of Germany’s most experienced executives to lead the supervisory board of Continental, the larger rival it took over last year.

Family-controlled Schaeffler Group has chosen one of Germany's most experienced executives to lead the supervisory board of Continental, the larger rival it took over last year.

Wolfgang Reitzle, currently chief executive of engineering and industrial gas company Linde, will take up the role of chairman of the supervisory board if he is appointed to the board of Continental, according to a statement on Schaeffler's website.

Schaeffler family claims Continental CEO

August 13, 2009

The Schaeffler family, owners of the car parts and ball bearings manufacturer Schaeffler KG, have succeeded in their bid to oust the CEO of Continental, the car parts manufacturer the family took over last year.

Karl-Thomas Neumann's departure is effective immediately. He will be replaced as CEO by the head of the automotive division at Schaeffler, Elmar Degenhart, who has the backing of the Schaeffler family.

Schaeffler family attempt to exert control over Continental

July 31, 2009

The Schaeffler family, owners of the car parts and ball bearings maker Schaeffler KG, are attempting to oust the chief executive of Continental, the car parts maker the family took over last year.

“There’s rough weather out there” Families give mixed outlook on economic climate

May 21, 2009

The skills of family business owners, chairmen and managers are being severely tested in the current climate. Just this week, rumours that family-owned Shaeffler’s audacious takeover of larger rival Continental is beginning to unravel have surfaced. So what are some of the world’s leading business-owning families saying and doing? Campden FB takes a look…

The skills of family business owners, chairmen and managers are being severely tested in the current climate. Just this week, rumours that family-owned Shaeffler's audacious takeover of larger rival Continental is beginning to unravel have surfaced. So what are some of the world's leading business-owning families saying and doing? Campden FB takes a look…