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Progress-Werk Oberkirch AG

EANS-News: Progress-Werk Oberkirch AG
PWO with new production site in China

Oberkirch (euro adhoc) -

PWO positions itself at one of the largest foreign production sites 
in the German automotive industry
  Corporate News übermittelt durch euro adhoc. Für den Inhalt ist der
  Emittent/Meldungsgeber verantwortlich.
Unternehmen
Oberkirch, April 17, 2009 - Today,
approximately a year after receiving the business licence for a 
wholly-owned subsidiary in China, PWO opened a new factory in Suzhou,
near Shanghai, and will start operations with both metal-forming 
presses.
As a result, the company now has the opportunity to supply numerous 
European customers at one of its major foreign sites and strengthen 
its reputation as a global strategic partner. In addition, this also 
provides PWO with access to new customers in Asia in the medium term.
Component production for a major German customer is currently being 
started.
Progress-Werk Oberkirch AG
The Management Board
PWO Group profile: a global future in the automotive supplies 
industry PWO is one of the world´s leading suppliers of 
high-precision metal components for the automotive industry, 
specialising in vehicle safety and comfort. Its unmatched expertise 
in the fields of metal-forming and joining technology has been 
acquired over nearly ninety years since the company´s foundation in 
1919. Today, PWO´s German production site in Oberkirch employs around
1,100 staff. With other sites in the Czech Republic, China, Mexico 
and Canada, the Group has now achieved a global presence with a total
workforce of around 1,900.
PWO acts as a partner to the automotive industry in the development 
and production of innovative products. The Group manufactures 
millions of components on a just-in-time and zero-defect basis. In 
close collaboration with customers, PWO is expanding its 
international production sites in order to supply local markets. PWO 
has already achieved significant success on its way of global 
expansion. The company has orders on hand which will lead to strong 
growth of revenue and EBIT once the industry will return to 
normalised sales figures.

Rückfragehinweis:

Bernd Bartmann, Member of the Board
Phone: +49 7802 / 84-347
Fax: +49 7802 / 84-789
e-Mail: bernd.bartmann@progress-werk.de

Branche: Auto
ISIN: DE0006968001
WKN: 696800
Börsen: Börse Frankfurt / Regulierter Markt/Prime Standard
Börse Berlin / Freiverkehr
Börse Hamburg / Freiverkehr
Börse Stuttgart / Freiverkehr
Börse Düsseldorf / Freiverkehr
Börse München / Freiverkehr

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