DGAP-News

Progress-Werk Oberkirch AG: Building expansion completed at Czech Republic location

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

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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".



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06.07.2015 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Progress-Werk Oberkirch AG
Industriestraße 8
77704 Oberkirch
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
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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373691 06.07.2015