DGAP-News: Progress-Werk Oberkirch AG / Key word(s): Expansion/Miscellaneous Progress-Werk Oberkirch AG: Building expansion completed at Czech Republic location 06.07.2015 / 08:00 --------------------------------------------------------------------- Press Release Building expansion completed at Czech Republic location - Location's floor space more than doubled - Preparations being made for operation of first additional 1,250 ton press - New capacity is already fully utilised Oberkirch, July 6, 2015 - By completing the construction of additional production space, Progress-Werk Oberkirch AG nearly finished the construction measures that were part of the strategic expansion of its Czech location announced in the summer of 2014. A sum of almost EUR 25 million was invested in the current expansion, which sets the stage for the location's continued growth. Investments include a new press facility as well as a new assembly and logistics facility with operating space totalling 12,000 m². These investments more than doubled the space of this location. A portion of the assembly and logistics facility was already brought into operation at the end of 2014. Soon, PWO will initiate the operation of the first new 1,250 ton press. An additional 800 ton press is expected to be installed in early 2016. Dr. Winfried Blümel, a member of Progress-Werk Oberkirch AG's Management Board and Chairman of the Supervisory Board of PWO Czech Republic a.s., who greeted not only employees but also numerous guests from the worlds of politics and business is very pleased with the development of the ValaÅ ské Meziříčí location: "This location has been a part of the PWO Group for 10 years and has been an excellent investment. Our colleagues deliver high performance in all areas every day and I would like to extend my appreciation for this commitment. Our coming together today for this happy occasion is also a result of their efforts." Dr. Volker Simon, Speaker of the Management Board of Progress-Werk Oberkirch AG, also considers the Czech subsidiary well equipped to further strengthen its market position: "This expansion gives us additional opportunities to meet customer demands more efficiently and more flexibly and to become an even more capable partner in the eyes of our customers. These enhancements will contribute to the Czech location's development into the second significant pillar of the PWO Group." 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". --------------------------------------------------------------------- 06.07.2015 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 --------------------------------------------------------------------- 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 --------------------------------------------------------------------- 373691 06.07.2015