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The eBearing News
September 27, 2004
FAG South Africa Suspends Top Management
copyright © 2004 eBearing Inc.
FAG Bearing South Africa Pty Ltd. (a subsidiary of FAG Kugelfischer, a division of INA Holding KG, Germany) has
suspended or fired as many as seven top managers, several local bearing industry sources
and local media told eBearing.
Following its acquisition by INA in 2002, FAG operations around the world have gradually been undergoing
reviews and audits to assess their general situation, market position, customer and management arrangements.
According to eBearing sources, INA's audits and reviews turned up questionable relationships between
FAG management and distributors in South Africa. This triggered an investigation which began three weeks
ago, resulting in the suspension or firing of the managers.
Allegedly, the audit has turned up evidence of improper sales bookings and inventory management,
involving the FAG managers and several bearing distributors across South Africa.
Thomas Badelt, Managing Director of INA Bearings South Africa Pty Ltd., has been named acting
Managing Director of FAG Bearing South Africa.
Officially, INA has had no comment other than, "management positions have been reassigned."
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Unauthorized reproduction is prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered
trademarks of eBearing Inc.
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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