10.08.2016
Progress-Werk Oberkirch AG DE0006968001
DGAP-News: Progress-Werk Oberkirch AG: Conclusion of a new supplemental wage agreement for the Oberkirch location
DGAP-News: Progress-Werk Oberkirch AG / Key word(s): Contract
Progress-Werk Oberkirch AG: Conclusion of a new supplemental wage agreement
for the Oberkirch location
10.08.2016 / 08:00
The issuer is solely responsible for the content of this announcement.
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- Agreement strengthens location's competitiveness
- Secures jobs until the end of 2020
Oberkirch, August 10, 2016 - Progress-Werk Oberkirch AG together with the
employee representatives in Oberkirch and IG Metall has concluded a new
supplemental wage agreement for its German location. The contract will
begin on January 1, 2017, just as the previous agreement comes to an end.
The supplemental wage agreement is part of our ongoing efforts to secure
the competitiveness of the Group's home location to counteract the
permanent pressure for transferring new orders to foreign locations.
Dr. Volker Simon, Speaker of the Management Board, in his comments
recognizing the supplemental wage agreements said: "With this agreement,
our employees have made a tremendous contribution to the continued success
of their location. The Management Board is fully aware of the related
responsibility for the steering of the Group. We would like to thank all
those involved for making this agreement possible."
Bernd Bartmann, Management Board Member responsible for the administration
& finance area is also pleased with this agreement: "We have made an
important step in securing the future capacity utilization at Oberkirch.
This allowed us to give job guarantees for the next four years, and we feel
especially committed to providing further vocational training."
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 Group has developed a unique knowledge in the
forming and joining of metals over the course of its roughly 97-year
history since it was founded in 1919. The German location at Oberkirch
today employs around 1,500 staff members. PWO is globally represented with
further sites in the Czech Republic, Canada, Mexico, and China. The Group
employs a total of 3,100 staff members.
PWO 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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10.08.2016 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.
Archive at www.dgap.de
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Language: English
Company: Progress-Werk Oberkirch AG
Industriestraße 8
77704 Oberkirch
Germany
Phone: +49 (0)7802 84-347
Fax: +49 (0)7802 84-789
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, Tradegate Exchange
End of News DGAP News Service
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490929 10.08.2016
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