Progress-Werk Oberkirch AG

EANS-News: Progress-Werk Oberkirch AG
PWO named as "Premium Supplier" to Schaeffler and Continental

- Schaeffler and Continental jointly acknowledge PWOÂ’s exceptional performance - Cooperation to be intensified

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Company Information

Subtitle: - Schaeffler and Continental jointly acknowledge PWOÂ’s exceptional performance - Cooperation to be intensified

Oberkirch (euro adhoc) - Oberkirch, 28 March 2011 - Progress-Werk Oberkirch AG has been accepted by the Schaeffler Group and Continental AG as a member of their preferred group of joint Premium Suppliers for 2011.

Karl M. Schmidhuber, CEO of Progress-Werk Oberkirch AG, was delighted by this recognition: "Both these customers rank among the world´s leading Tier 1 system suppliers to the international automobile industry. They have expressly acknowledged our high quality in the field of complex metal components, our global presence and supply capabilities, as well as praising the innovation which has enabled us take the lead in both technology and costs with our products. We are especially proud, not least because these are the criteria that underpin our positioning in the competitive global environment. This recognition is a confirmation of our strategy. I would like to thank our employees for this outstanding performance."

Dr. Winfried Blümel, the PWO Management Board member with responsibility for production and materials, pointed to the potential accruing from PWO´s Premium Supplier status: "We are delighted at the prospect of continuing cooperation. We already work closely with these customers, and this will now be intensified. As a preferred supplier of components for the Schaeffler and Continental systems in use worldwide and as a partner in their joint purchasing operation, the door is now open to additional global opportunities."

Progress-Werk Oberkirch AG The Management Board

PWO company profile PWO is one of the world's leading suppliers of advanced metal components for automobile safety and comfort. The company has developed unique knowledge in the forming and joining of metals over the course of its over 90-year history since it was founded in 1919. The German location at Oberkirch today employs around 1,200 staff members. The Group is globally represented with further sites in China, Canada, Mexico and the Czech Republic, and employs around 2,100 staff around the world.

PW0 is a partner to the global automotive industry for the development and production of innovative products in the areas of "Mechanical components for electrical and electronic applications", "Safety components for airbags, seats and steering" and "Components and systems for vehicle bodies and chassis".

end of announcement                               euro adhoc
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Contact:

Bernd Bartmann (CFO)
Phone: +49 7802 / 84-347
Fax: +49 7802 / 84-789
e-Mail: bernd.bartmann@progress-werk.de

Branche: Automotive Equipment
ISIN: DE0006968001
WKN: 696800
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
DĂĽsseldorf / free trade
MĂĽnchen / free trade



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