Schaeffler Group(fag bearings) and the union IG Metall have concluded an agreement about a joint committee that represents the first joint step towards the agreed implementation of co-determination in the company. This joint committee consists of six representatives from each party and is intended for the exchange of information about issues related to the economic situation and further development of the Schaeffler Group. A representative of the Schaeffler Group will act as the chairman and an employee representative will become deputy chairman of the committee. The joint committee will hold four ordinary meetings per year. The Schaeffler Group welcomes the result as an important contribution to a good working relationship between both parties.