DGAP-News Progress-Werk Oberkirch AG prepares for future growth and expands its financial scope
DGAP-News: Progress-Werk Oberkirch AG / Key word(s): Financing
Dr. Cornelia Ballwießer, CFO of PWO AG, is very satisfied with the amount and structure of the financing commitments: "With this financing, we have further increased our available credit lines and have given the Group even more flexibility." In addition to the Group's planned expansion, our primary aim is to further increase the competitive strength of our locations, further expand their technological capabilities, and invest in digitalization.
Carlo Lazzarini, CEO of PWO AG, emphasizes: "Even in these pandemic times, we want to work consistently and without delay on implementing our strategic goals. Numerous development projects and the current high volume of new inquiries underscore our first-class standing with our customers. With innovation-driven solutions, we are actively shaping the mobility of the future. In doing so, we are a preferred partner of our customers."
We have just started to expand our Czech site. Additional operating space of 8,000 sqm is now being leased for this purpose. The site is already the Group's center of excellence for the development and production of vehicle seat solutions that are setting standards worldwide.
In the future, instrument panel carriers will grow to become another key product line at this site. To this end, orders were recently won from existing customers to supply additional vehicle models and, as of 2022, we will also supply two renowned new international customers for important model series of their premium vehicles, which includes electrically driven models.