10.12.2015
Progress-Werk Oberkirch AG DE0006968001
DGAP-News: Progress-Werk Oberkirch AG: PWO generates record level of new business volume
DGAP-News: Progress-Werk Oberkirch AG / Key word(s): Incoming Orders
Progress-Werk Oberkirch AG: PWO generates record level of new business
volume
10.12.2015 / 08:00
The issuer is solely responsible for the content of this announcement.
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- New business exceeds the EUR 600 million threshold (p/y: EUR 280
million)
- Particularly strong position in lightweight cross-members
- Recognized again as a premium supplier by Continental and Schaeffler
Oberkirch, December 10, 2015 - PWO is enjoying tremendous success on the
market. As of today, the Company has reached a record level of new business
volume in the 2015 fiscal year: Over EUR 600 million, or more than double
the volume of the previous year, has been achieved to date, EUR 40 million
of which are related tool orders.
We were particularly successful in acquiring new large series production
orders for cockpit cross-members. Business was driven by both first-time
orders from new customers as well as follow-on orders for products already
in production. Also strong were electric motor housings and air suspension
components - two product areas where we expect continued substantial growth
in the future.
These new contracts will ensure the development planned at all our
locations. New business was especially resilient in China where volumes
exceeded our current annual revenues by a factor of five. We will begin
manufacturing new product lines at several of our locations so that we may
continue to expand our global capabilities. As is common in our business,
the new series productions will begin in the years running up to 2018 and
will then continue for another five to eight years.
The premier position we enjoy in the market is also highlighted by the
recognition we recently received from Continental and Schaeffler. PWO has
belonged to these customers' Premium Supplier Circle since the formation of
the purchasing cooperation. Of the two companies' more than 1,200 strategic
suppliers, only 37 have been awarded this status in the past six years.
Dr. Volker Simon, Speaker of the Management Board, is very pleased with the
new business performance in the current fiscal year: "Our customers have
proven we are highly competitive. Innovative strength, global presence,
quality, and reliable delivery are the factors that make PWO stand out
among the rest. Our current high order volume shows that we meet our
customers' high standards every day. We would like to extend our thanks to
Continental and Schaeffler for their confidence in PWO. We are very honored
to receive this recognition and see it as an incentive to continue
providing outstanding performance."
Progress-Werk Oberkirch AG
The Management Board
PWO company profile
PWO is one of the world's leading developers and manufacturers of advanced
metal components and systems in lightweight construction for automobile
safety and comfort. The company has
developed a unique knowledge in the forming and joining of metals over the
course of its 95-year history since it was founded in 1919. The German
location at Oberkirch today employs around 1,500 staff members. The Group
is globally represented with further sites in China, Canada,
Mexico, and the Czech Republic. It employs around 3,100 staff members
worldwide.
PW0 is a partner to the global automotive industry for the development and
production of innovative products in the divisions of "Mechanical
components for electrical and electronic applications", "Safety components
for airbags, seats and steering" and "Components and subsystems for vehicle
bodies and chassis".
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10.12.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Progress-Werk Oberkirch AG
Industriestraße 8
77704 Oberkirch
Germany
Phone: +49 (0)7802 84-0
Fax: +49 (0)7802 84-273
E-mail: [email protected]
Internet: www.progress-werk.de
ISIN: DE0006968001
WKN: 696800
Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart;
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Munich
End of News DGAP News Service
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422499 10.12.2015
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