Fighting to Be More Than A Cog in the Machine
Bloomberg Businessweek|September 20, 2021
A German auto parts maker seeks to engineer itself a future for the post-Merkel era
Cristina Lindblad
Fighting to Be More Than A Cog in the Machine

Klaus Rosenfeld was making a routine visit to a potential supplier in the fall of 2018 when, unexpectedly, a big opportunity presented itself. Executives at the company let it slip that it was about to be sold. The terms hadn’t been finalized, and Rosenfeld’s Schaeffler AG could cut in if it acted fast.

On the drive home to Frankfurt, Rosenfeld called Georg Schaeffler, the son of one of the company’s founders and now its chairman and main shareholder, to brief him. Before hanging up, the two men agreed to sleep on it. Less than 12 hours later, Rosenfeld had the green light to make a bid for Elmotec Statomat, a world-leading supplier of equipment used in the manufacture of electric vehicles. “We’ve never turned around a deal so fast,” says Schaeffler’s chief executive officer. “It was clear the technology would accelerate our transformation—a small step with a big impact.”

Impulse buying runs against the grain of German capitalism, which is more measured and methodical than the U.S. version. Yet in boardrooms from the Black Forest to the Baltic coast, a sense of urgency is taking hold with the realization that the German economic model is reaching its limits: Precision machining bits of metal down to micron levels of tolerance and assembling them into cars and other complex mechanical systems that are then shipped to all corners of the globe can no longer guarantee affluence for the country’s 83 million people.

This story is from the September 20, 2021 edition of Bloomberg Businessweek.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the September 20, 2021 edition of Bloomberg Businessweek.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM BLOOMBERG BUSINESSWEEKView All
Instagram's Founders Say It's Time for a New Social App
Bloomberg Businessweek US

Instagram's Founders Say It's Time for a New Social App

The rise of AI and the fall of Twitter could create opportunities for upstarts

time-read
4 mins  |
March 13, 2023
Running in Circles
Bloomberg Businessweek US

Running in Circles

A subscription running shoe program aims to fight footwear waste

time-read
3 mins  |
March 20 - 27, 2023
What I Learned Working at a Hawaiien Mega-Resort
Bloomberg Businessweek US

What I Learned Working at a Hawaiien Mega-Resort

Nine wild secrets from the staff at Turtle Bay, who have to manage everyone from haughty honeymooners to go-go-dancing golfers.

time-read
10 mins  |
March 20 - 27, 2023
How Noma Will Blossom In Kyoto
Bloomberg Businessweek US

How Noma Will Blossom In Kyoto

The best restaurant in the world just began its second pop-up in Japan. Here's what's cooking

time-read
3 mins  |
March 20 - 27, 2023
The Last-Mover Problem
Bloomberg Businessweek US

The Last-Mover Problem

A startup called Sennder is trying to bring an extremely tech-resistant industry into the age of apps

time-read
10+ mins  |
March 20 - 27, 2023
Tick Tock, TikTok
Bloomberg Businessweek US

Tick Tock, TikTok

The US thinks the Chinese-owned social media app is a major national security risk. TikTok is running out of ways to avoid a ban

time-read
10+ mins  |
March 20 - 27, 2023
Cleaner Clothing Dye, Made From Bacteria
Bloomberg Businessweek US

Cleaner Clothing Dye, Made From Bacteria

A UK company produces colors with less water than conventional methods and no toxic chemicals

time-read
3 mins  |
March 20 - 27, 2023
Pumping Heat in Hamburg
Bloomberg Businessweek US

Pumping Heat in Hamburg

The German port city plans to store hot water underground and bring it up to heat homes in the winter

time-read
3 mins  |
March 20 - 27, 2023
Sustainability: Calamari's Climate Edge
Bloomberg Businessweek US

Sustainability: Calamari's Climate Edge

Squid's ability to flourish in warmer waters makes it fitting for a diet for the changing environment

time-read
4 mins  |
March 20 - 27, 2023
New Money, New Problems
Bloomberg Businessweek US

New Money, New Problems

In Naples, an influx of wealthy is displacing out-of-towners lower-income workers

time-read
4 mins  |
March 20 - 27, 2023