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19.04.2012 – 08:02

Progress-Werk Oberkirch AG

EANS-News: Progress-Werk Oberkirch AG
PWO: 2012 shows dynamic growth in new business

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
Company Information

Subtitle: - New contracts received by mid-April 2012 have a lifetime volume of
around EUR 210 million
- New business volume has already reached around 70 percent of the total new
orders received in 2011 
- New contracts secure growth beyond 2014 

Oberkirch (euro adhoc) - Oberkirch, April 19, 2012 - The PWO Group expects to
continue its high growth
in the future due to the strength in new business in the first months of 2012.
From January until mid-April 2012, the Group already received contracts for new
series productions with a lifetime volume of around EUR 210 million. This
represents approximately 70 percent of the total orders received in 2011.

The strength in new business underlines our competitive strength resulting from
our high innovative power in product and process development. The long lead
times in our business -which simultaneously give us high planning security -
mean that the start-up and ramp-up of the new contracts will occur in fiscal
years 2013/14. They form an essential foundation that will help us to continue
our rapid growth beyond 2014.

The new contracts have a series production run of five to eight years.
Production will take place primarily at our locations in Germany and the Czech
Republic but include also volumes for our locations in North America and Asia.
These new contracts demonstrate that we win contracts in established markets as
well as in growth markets because our product solutions satisfy our customers.
This shows that we are on the right track towards achieving above-average
growth in relation to the development of the automobile market.

The contracts are spread across our entire product range and concern various
vehicle models and platforms involving several car manufacturers. This means
that we can expect to continue to remain independent of the success of
individual car models in the future. Following the award of several major
contracts for vehicle body and running gear components (particularly cross
members) we showed renewed success in other product areas, especially
components for seats, steering, brakes and air suspension systems. Our strategy
of having a balanced product portfolio is underpinned by the contracts acquired
thus far in 2012.

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 a particular 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 1,400 staff members. The Group is globally represented with
further sites in Canada, the Czech Republic, China and Mexico employs around
2,600 staff members 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".

Further inquiry note:
Bernd Bartmann (CFO)
Phone: +49 7802 / 84-347
Fax: +49 7802 / 84-789

end of announcement                               euro adhoc 

company:     Progress-Werk Oberkirch AG
             Industriestraße 8
             D-77704 Oberkirch
phone:       +49(0)7802 84-0
sector:      Automotive Equipment
ISIN:        DE0006968001
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
             regulated dealing/prime standard: Frankfurt 
language:   English

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