Friday, March 12, 2021

Schaeffler India announces cost coverage of COVID-19 vaccination for all eligible employees

Pune | March 12, 2021 | Leading industrial and automotive supplier, Schaeffler India Limited(BSE: 505790, NSE: SCHAEFFLER)announced that it will cover the COVID-19 vaccination cost for all eligible employees. The initiative is aimed to safeguard the well-being of employees from the emerging second wave of deadly COVID-19 pandemic.

Speaking on the initiative, Mr. Santanu Ghoshal, Vice President – Human Resources & Head – CSR, Schaeffler India said, “Currently, the vaccine is the most potent shield we have to arrest the pandemic growth and its adverse conse-quences. At Schaeffler, our employees are one of the most important pillars of our success and we truly appreciate their dedication and efforts during this tough time of the pandemic. This initiative is in line with our ‘Employee First’ philosophy to protect our employees against the COVID-19 pandemic”.

The company has urged all its employees, eligible for vaccination, to register themselves through the government app CoWIN/Aarogya Setu and follow the set process to receive the vaccination. The company will reimburse the costs of two mandated vaccine shots for all the entitled employees.

About Schaeffler India Limited

Schaeffler has been present in India for over 50 years. With 3 well known product brands LuK, INA and FAG, 4 manufacturing plants and 8 sales offices, Schaeffler has a significant presence in India. Schaeffler is among the largest Industrial and Automotive supplier with sales of INR 37.6 billion in 2020 and around 2794 employees. The manufacturing plants in Maneja and Savli (Vadodara), produce a vast range of ball bearings, cylindrical roller bearings, spherical roller bearings and wheel bearings that are sold under the brand name of FAG. The plant at Talegaon near Pune, manufactures engine and powertrain components for front accessory drive system, chain drive systems, valve train, gear shift systems and a range of needle roller bearings and elements, under the brand INA. The fourth manufacturing location is based out of Hosur, producing a wide range of clutches and hydraulic clutch release systems for passenger cars, light commercial vehicles, heavy commercial vehicles and tractors sold under the brand of LuK. Schaeffler also has the largest after-market networks serving the industrial and automotive customers. All of this is backed by dedicated engineering, research and development support based in India in support of product teams.

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