EANS-News: Progress-Werk Oberkirch AG / PWO with new production site in China

PWO positions itself at one of the largest foreign production sites
in the German automotive industry

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Unternehmen

Oberkirch (euro adhoc) - Oberkirch, April 17, 2009 - Today,
approximately a year after receiving the business licence for a
wholly-owned subsidiary in China, PWO opened a new factory in Suzhou,
near Shanghai, and will start operations with both metal-forming
presses.

As a result, the company now has the opportunity to supply numerous
European customers at one of its major foreign sites and strengthen
its reputation as a global strategic partner. In addition, this also
provides PWO with access to new customers in Asia in the medium term.
Component production for a major German customer is currently being
started.

Progress-Werk Oberkirch AG
The Management Board

PWO Group profile: a global future in the automotive supplies
industry PWO is one of the world´s leading suppliers of
high-precision metal components for the automotive industry,
specialising in vehicle safety and comfort. Its unmatched expertise
in the fields of metal-forming and joining technology has been
acquired over nearly ninety years since the company´s foundation in
1919. Today, PWO´s German production site in Oberkirch employs around
1,100 staff. With other sites in the Czech Republic, China, Mexico
and Canada, the Group has now achieved a global presence with a total
workforce of around 1,900.

PWO acts as a partner to the automotive industry in the development
and production of innovative products. The Group manufactures
millions of components on a just-in-time and zero-defect basis. In
close collaboration with customers, PWO is expanding its
international production sites in order to supply local markets. PWO
has already achieved significant success on its way of global
expansion. The company has orders on hand which will lead to strong
growth of revenue and EBIT once the industry will return to
normalised sales figures.

Ende der Mitteilung euro adhoc
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ots Originaltext: Progress-Werk Oberkirch AG
Im Internet recherchierbar: http://www.presseportal.de

Rückfragehinweis:

Bernd Bartmann, Member of the Board

Phone: +49 7802 / 84-347

Fax: +49 7802 / 84-789

e-Mail: bernd.bartmann@progress-werk.de

Branche: Auto
ISIN: DE0006968001
WKN: 696800
Börsen: Börse Frankfurt / Regulierter Markt/Prime Standard
Börse Berlin / Freiverkehr
Börse Hamburg / Freiverkehr
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Börse Düsseldorf / Freiverkehr
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