For reasons long known to the Auto Industry coupled with the global financial meltdown, Continental Group shares have slipped from the very generous Schaeffler buy at 75.00 Euros now hovering at 30.00 Euros, effectively placing the Schaeffler family at risk of 'technical insolvency'.

With Schaeffler's main banker 'Royal Bank of Scotland' going bust and the sacking of its CEO, now in fully effective control by the UK Government, all previous banking promises are cancelled including that made with Schaeffler.

The paper loss by Schaeffler is now approximate 22 Billion Euros and if forced to crystallise will impact on the entire Bearing Industry.

Other News:
Its Think Again For Maria Schaeffler
Climax Names Bannon as National Sales Manager
SKF Acquires Lubrication Systems Company in Argentina
Schaeffler Group Attend 5th International Suppliers’ Fair in Wolfsburg
Used Machinery Volume Grows in US and Europe
Bearing Headquarters and VAI “Team Up” with new ERP System
NN, Inc. Report Financial Results For 3Q and Nine Months
Minebea's Notice Regarding Repurchase of Own Shares