DGAP-News

Progress-Werk Oberkirch AG: PWO wins global large order for lightweight cross-members

DGAP-News: Progress-Werk Oberkirch AG / Key word(s): Incoming Orders
Progress-Werk Oberkirch AG: PWO wins global large order for
lightweight cross-members

19.08.2015 / 08:00

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- Another success for PWO: A contract for cockpit cross-members for a
global platform

- Replacement of previous polymer hybrid cross-member with lightweight
steel solution

- Lifetime volume of more than EUR 100 million

Oberkirch, August 19, 2015 - Progress-Werk Oberkirch AG has received a
contract from a premium car manufacturer in Southern Germany for the
development and production of cockpit cross-members. PWO prevailed against
strong competitors with the decisive factors being among others PWO's
expertise in lightweight construction, and the Company's global footprint,
which was an appealing aspect for the OEM. Having this global footprint is
a key factor, particularly for modules of this size in combination with
global vehicle platforms. The customer's previous polymer hybrid
cross-member made of aluminum and synthetic material will be replaced by
the lightweight steel concept from PWO. This lightweight steel solution
provides an ideal cost-benefit ratio for the global production of this
series.

The volume of the contract is well over EUR 100 million. Starting in 2018,
approximately seven million cross-members in different variations will be
delivered worldwide over a period of ten years.

Dr. Volker Simon, Speaker of the Management Board, is very pleased with
this contract: "In particular due to our extensive expertise in lightweight
construction, we have now been able to win the trust of our longstanding
customer also for a new global project for cross-members. For the first
time, we will also be delivering to the customer's Japanese cooperation
partner in Mexico. With this contract, we are now the supplier of choice
for cockpit cross-members for the large volume platforms of nearly all our
OEM customers."

In the future, PWO will be producing cross-members at all of the Group's
five production locations - Germany, the Czech Republic, Canada, Mexico,
and China. Other regions are covered by cooperation partners.

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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19.08.2015 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


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387733 19.08.2015