History

Company history

 
 

1946

After the end of the war the plant is completely demolished.
More than 4,000 machine units are dismantled, the end of "Kugelfischer Georg Schäfer & Co.", the name the company had received in 1941, seems imminent.

 

1948

Management is resumed by Georg and Otto Schäfer who are individually liable shareholders.

 

1950

The Elfershausen plant is purchased and extended to become a main production site for special rolling bearing types, adapter sleeves and extraction sleeves, nuts and thrust bearings.

 

1953

“Fischer Bearings Manufacturing Ltd.” is founded in Stratford, Ontario, Canada. In November of the same year, the production plant is set up under the leadership of engineer Georg Schafer. The plant opens on May 26, 1954.

 

1955

Production of brake hydraulics parts for motor vehicles starts in the Ebern plant.

 

1957

The Hammelburg plant becomes part of the company, where the production of textile machine accessories is later centralized.

 

1960

“Rolamentos FAG Ltda.” is founded in Sao Paulo, Brazil. Construction of the plant begins in 1961.

 

1962

Kugelfischer takes over the majority of the shares of “Dürkoppwerke AG”, founded in 1867 in Bielefeld.

 

Abrasive wheel production is transferred from Ebern to the new plant in Gerolzhofen.

 

1966

The majority of the Portuguese production plant “ROL Rolamentos Portugueses S.A.R.L.”, in Caldas da Rainha is acquired.

 

1968

Kugelfischer acquires shares in the Indian rolling bearings company “Precision Bearings India Ltd.” in Baroda.

 

1969

Take over of “Norma Hoffmann”, Stamford, Connecticut, USA. After a period of adjustment, the company name is changed to “FAG Bearings Corp.”. In 1970 production commences in the new plant in Joplin, Missouri.

 

1975

Dr. Georg Schäfer dies on January 27. Dr. Schäfer, born August 7, 1896, had been a shareholder since 1922.

 

1976

G. & J. Jaeger GmbH, Wuppertal, and Dürkoppwerke GmbH, Bielefeld, transfer the rolling bearing business to the parent company FAG Kugelfischer. The Wuppertal plant becomes the main production location for large and special bearings, the Künsebeck plant becomes the main production location for needle roller bearings.
Developing, manufacturing and distributing industrial sewing machines and conveyor systems remain at Dürkoppwerke GmbH, Bielefeld.

 

1979

FAG Bearings Ltd., Stratford, Ontario has been manufacturing in Canada for 25 years. The plant is extended, nearly doubling its usable space.

 

1980

A ready-to-use CAD system is introduced into operational scheduling.

 

Frieseke & Hoepfner GmbH, Erlangen and its subsidiary company, Rotenburger Metallwerke GmbH, are taken over by FAG Kugelfischer.

 

1981

The new storage and distribution centers in Schweinfurt and Wels (Austria) are officially opened.

 

1983

FAG Kugelfischer Georg Schäfer & Co. changes from being a limited partnership to an association limited by shares. The entire share capital lies with the previous shareholders. The new shares are to be taken over by the leading banks of the future underwriting syndicate for the purpose of placement with the investing public.

 

FAG commemorates the technological and historic event that it considers to be the starting point of its history with the following motto “100 years of industrial ball bearing production – 100 years of rolling bearing history”.

 

The FAG Kugelfischer Foundation is set up. It recognizes outstanding achievements in physics, mathematics, and dissertations in colleges and universities.

 

1984

FAG Georg Schäfer KGaA acquires a 50% share in Helmut Elges GmbH, Bielefeld. Elges and its approximately 500 employees primarily manufactures spherical plain bearings, rod ends and joint units. INA-Schaeffler KG holds the other 50%.

 

1985

On the occasion of launching the company on the stock market, voting stock is offered at a nominal value of a total of 80 million DM from the share capital of 165 million DM. The share purchase price of a 50 DM share is set at 310 DM.
51.5% of the share capital and therefore, the majority of the shares remain the property of the Schäfer family.