Alexandru Blemovici, Schaeffler: “Romania now has the chance to become more competitive on the international market and to become a growth engine for Europe”

“The challenges for the automotive supply chain start from competitiveness. In Europe we have a competitiveness issue and I think this is felt not only in the automotive industry, but also in other industries.

The main priority for 2025 must be about how we remain competitive. The economic context is difficult, there are a number of factors that we need to monitor – military conflicts, economic wars – and that will influence competitiveness. However, we try to see this challenge as an opportunity for our company and for our country. Romania now has the chance to become more competitive on the international market and to become a growth engine for Europe,” Alexandru Blemovici, Head of Romania & Southeast Europe, Schaeffler Group said during Automotive Forum 2024 organized by Automotive Today and The Diplomat-Bucharest.

“The merger with Vitesco helped us become a ‘new Schaeffler’, a stronger company. From 4,500 employees we reached almost 9,000. We balanced production with research and development. Vitesco was very strong in this field, with 4 engineering locations in Iasi, Timisoara, Sibiu and Brasov.

We are prepared for a 2025 with many challenges. We are optimistic and I believe that it is a development opportunity for Romania and for the countries of Southeastern Europe.

Romania is a country that has been developing strongly in recent years, we produce at the level of Western Europe, but with better costs here. We must look at 2025 as a chance for us and we are optimistic about what awaits us next year.”

Schaeffler announced in October the successful merger with Vitesco Technologies Group AG that was announced almost a year ago.

On a pro-forma basis for 2023, the combined company will have consolidated annual sales of around 25 billion euros, will employ around 120,000 people at over 250 locations and will have more than 100 production facilities worldwide.

In the new setup going forward, the Schaeffler Group will divide its business activities into four focused divisions with leading positions in each of their respective markets: E-Mobility, Powertrain & Chassis, Vehicle Lifetime Solutions and Bearings & Industrial Solutions. In addition, the Schaeffler Group divides its business into four regions – Europe, Americas, Greater China and Asia/Pacific – which will continue to be managed as before.

Schaeffler expects – as initially announced – that the merger with Vitesco will lead to revenue and cost synergies with an envisaged EBIT impact of 600 million euros annually. The synergies will be implemented gradually. Full synergy potential is expected to be reached for the first time in 2029.