Conti, Schaeffler pool buying power

Continental AG and The Schaeffler Group have established a joint purchasing program.

The goal of the program is to "optimize cost of materials and achieve an annual triple-digit million benefit through access to steel markets and component suppliers, as well as investments and non-manufacturing materials," say Continental officials.

The combined puchasing volume of Continental and Schaeffler totaled 20 billion euros in 2008.