The Schaeffler Group, the automotive and industrial supplier set new records in sales and operating results in the first six months of 2011.

“Our business has developed excellently in the first half of this year. Once again, we managed to exceed the very good levels in sales and net income achieved in the previous half-year period,” said Dr Juergen Geissinger, Schaeffler Group president and CEO. “Thanks to our innovative product portfolio, we could benefit beyond proportion from our customers’ economic recovery in all sectors and regions.”

Schaeffler Group sales in the first six months rose by 18 per cent to around €5.4 billion. The European region excluding Germany recorded the highest increase of 21 per cent, followed by Asia with 18 per cent and Germany with 17 per cent. The Automotive Division surpassed the sales level of the last period, by 16 per cent to a3.6 billion.