German Automotive Developer and Supplier Announces Major Commitment to New Jobs and Expansion in Ohio

HANNOVER, GERMANY--(Marketwired - Apr 25, 2016) - Schaeffler, a German-based company, announced plans today to expand its automotive facility in Wooster, Ohio, a move that will create 250 new jobs. The company's $60 million capital investment commitment will also help retain the 1,767 employees who already make Schaeffler Wooster's largest employer.

Schaeffler's Chief Operating Officer Oliver Jung joined Ohio Lt. Gov. Mary Taylor, economic development and industry leaders from JobsOhio and TeamNeo, and city of Wooster representatives at Hannover Messe, the world's largest manufacturing trade fair that is being held in Germany this week, to mark Schaeffler's continued growth in the state.

The fully integrated facility in Wooster designs and manufactures transmission system components -- primarily torque converters -- for original equipment manufacturers across the globe. The technologies Schaeffler introduces to the market are focused on improving vehicle performance, fuel economy, and driving comfort.

"This expansion allows us to retain the excellent vertical integration that our team has cultivated at our Wooster, Ohio, facility," said Marc McGrath, president, automotive Americas. "We appreciate the city of Wooster and JobsOhio's support and the emphasis they put on initiatives such as workforce development, which is one of the reasons that we are able to keep growing at this location."

Expansion plans, totaling an additional 91,000 square feet by 2017, will include new manufacturing space as well as increased office space.

"In a highly competitive global market, we are pleased that Schaeffler has chosen Ohio for this investment," Taylor said. "It's a testament to the strength of its talented workforce in Wooster, and the 250 new jobs created through this investment will provide more opportunity for families across the region."

"We are thrilled to have Schaeffler expanding in our community," said Wooster Mayor Bob Breneman. "Schaeffler is the largest employer in our city's history, and has been an excellent corporate partner for our community. We are thankful and gratified for their growth and faith
 in Wooster."

According to Kristi Tanner, senior managing director for Automotive at JobsOhio, Schaeffler is an important part of Ohio's automotive ecosystem. "Ohio produces more engines and transmissions than any other state, and Schaeffler is helping lead the way with its high precision drivetrain components made in Wooster," said Tanner. "Its next generation technology is helping Ohio lead the way for the future of mobility."

The company plans on holding a groundbreaking ceremony in late May.

About JobsOhio
JobsOhio is a private, nonprofit corporation designed to drive job creation and new capital investment in Ohio through business attraction, retention and expansion efforts. JobsOhio works with six regional partners across Ohio: Appalachian Partnership for Economic Growth, Columbus 2020, Dayton Development Coalition, REDI Cincinnati, Regional Growth Partnership and Team NEO.

Learn more at www.jobs-ohio.com. Follow us on LinkedIn, Twitter and Facebook.

About The Schaeffler Group
The Schaeffler Group is a leading global integrated automotive and industrial supplier. The company stands for the highest quality, outstanding technology, and strong innovative ability. The Schaeffler Group makes a key contribution to "Mobility for tomorrow" with high-precision components and systems in engine, transmission, and chassis applications as well as rolling and plain bearing solutions for a large number of industrial applications. The technology company generated sales of approximately EUR 13.2 billion in 2015. With around 84,000 employees, Schaeffler is one of the world's largest family companies and, with approximately 170 locations in over 50 countries, has a worldwide network of manufacturing locations, research and development facilities, and sales companies.