German automotive supplier Schaeffler to buy Ewellix for $594 mln

German automotive supplier Schaeffler has agreed to buy Sweden’s Ewellix Group from investment company Triton for about 582 million euros ($594 million), according to Reuters report.

Schaeffler said the purchase continues the expansion of its industrial division and is expected to lift earnings in 2024.

Ewellix, which makes components including telescopic lifting columns, employs nearly 1,200 people and generates about 250 million euros in annual revenue.

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News Desk

HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com. 

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