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

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

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Company Information

Subtitle: - Schaeffler and Continental jointly acknowledge PWO’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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ots Originaltext: Progress-Werk Oberkirch AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

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
Düsseldorf / free trade
München / free trade