BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The Management Board of Schaeffler AG (SCFLF.OB) has suspended the guidance for fiscal 2020 published on 10 March 2020 due to the worldwide spread of the Corona crisis and the resulting measures and restrictions. The Group said, currently, neither the further course nor the economic implications can be reliably assessed.
On March 19, 2020, Schaeffler finalized a package of measures in collaboration with the employee and Works Council representatives for the purpose of adjusting production capacities in Germany and Europe to match the decline in automobile production.
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