There is something to celebrate for Georg Schaeffler and Klaus Rosenfeld. In the time-honored trading hall of the Frankfurt Stock Exchange, the majority owner of the automotive supplier Schaeffler and his CEO will ring the heavy bell on the trading floor on Wednesday, including the obligatory photo of beaming managers in front of the bull statue at the entrance. The mood is likely to be exuberant, and that alone is unusual for a company in the German automotive industry, which is delivering negative news on the assembly line these days. At Schaeffler, on the other hand, you can look forward to the initial listing of the new share, which results from the merger with the drive specialist Vitesco Technologies.
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