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Recently, State Council has demanded related departments to carry out investigation on the Schaeffler acquizition over Luoyang Bearing Group(LBG).
In preceeding reports, LBG officer announced that Schaeffler Group had canceled the framwork agreement with them in middle July, implying that Schaeffler had given up the acquisition. However, the fact is that both parties are still engaging in some negotiations about the acquisition.
The investigation approved by State Council will involve 5 related state ministries, result of it is expected to submit to premier Wen jiabao for further resolution. This is a sign of Chinese government's worry about excessive growing foreign enterprises in certain industries.
On August 1, delegation made up by 5 state ministries including National Development & Reform Commission, State-owned Assets Supervision & Administration Commission, Ministry of Commerce of China, Information Center Legislative Affairs Office of State Council China, Commission of Science Technology & Industry For National Defence, visited LBG to make sure that the Schaeffler acquisition would be fair and do not harm national security.
After the three-day visit, the delegation demanded LBG not to make crucial decision with Schaeffler without consulting higher authorities.
Besides, acquisition related legislation have been undergoing. Insiders predicated that the LBG-Schaeffler case will not come to an end until the formal legislation being published.
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| H24056HG bearing | 280 | ||
| H24056 bearing | 280 |