Schaeffler acquires stake in up2parts

To create AI-based automation solutions for modern machines and the whole manufacturing value chain, then implement these solutions in a flexible manufacturing environment.

Herzogenaurach, Germany-Schaeffler Technologies AG & Co. Kg., has acquired a stake in German software up2parts GmbH., with an undisclosed value. The aim is to create AI-based automation solutions for modern machines and the whole manufacturing value chain, then implement these solutions in a flexible manufacturing environment. Now, Schaeffler owns a portion of up2parts.

At the same time, Schaeffler’s Head of Advanced Production Technology, Thomas Krämer, is joining CEO Marco Bauer in the company.

Mr. Andreas Schick, Chief Operating Officer responsible for Production, Supply Chain Management, and Purchasing at Schaeffler AG., said that, It is crucial to Schaeffler's business because it will increase the speed, efficiency, and agility of our worldwide manufacturing network. The next natural step in converting our 83 manufacturing facilities into autonomous, environmentally friendly factories is to acquire a stake in up2parts. At Schaeffler's cutting-edge tool technology center in Höchstadt, which also includes up2parts and DMG MORI as a stakeholder, there is already collaboration between the two parties. They created an integrated system for the digitalization of toolmaking that uses AI to create route sheets.

Mr. Thomas Krämer, Head of Advanced Production Technology at Schaeffler and Co-CEO of up2parts said that, We wish to further develop the strong, tight relationship that exists between Schaeffler and up2parts. Schaeffler will be able to plan route sheets even more effectively in the future thanks to artificial intelligence thanks to the combined creation of a ground-breaking system for the digitalization of toolmaking. Additionally, we'll create a cloud-based AUTOCAM system for the automatic development of machine tool machining programs.

Mr. Marco Bauer, Co-Managing Director of up2parts said that,  Along with Schaeffler, Sandvik is a shareholder in up2parts. For the manufacturing, mining, and infrastructure sectors, Sandvik is a large, high-tech engineering group that offers solutions that increase productivity and sustainability. "Schaeffler and Sandvik not only reinforce our financial base, but also bring essential expertise and market knowledge. Their knowledge will aid us in realizing our goal of a digital and productive production environment.