DGAP-News 119 0 Kommentare Progress-Werk Oberkirch AG: Executive Board and Works Council fight side by side to develop a future-proof package to increase the competitiveness of the Oberkirch production site - Seite 2

Exactly how many jobs can be saved depends on framework conditions such as weekly working hours and the structure of collectively agreed special payments, and thus on the support and flexibility of IG Metall. Only with everyone working together can the Executive Board, Works Council and workforce achieve their common goal.

Dr. Cornelia Ballwießer, CFO of PWO: "There will be some painful changes. In return, the workforce is offered a viable future at the Company. The Executive Board will fight to preserve every single job. This can only be done with a viable package for the future."

The Executive Board supports regaining competitiveness through investments in automation and Industry 4.0, as well as by making targeted investments in the further qualification of the workforce, in order to continue to consistently pursue the current path to become a high-tech location.

Progress-Werk Oberkirch AG
The Executive Board

Company Profile PWO
PWO is a partner to the global mobility industry for the development and production of advanced metal components and subsystems using lightweight construction. The Group has developed a unique knowledge in the forming and joining of metals over the course of its more than 100-year history since it was founded in 1919. With our expertise in lightweight construction, we contribute to environmentally friendly driving and greater distances.

All of the Group's more than 1,000 products contribute to electrification, safety and comfort. More than 90 percent of revenue is independent of the vehicle's type of drivetrain. Approximately 3,000 employees on three continents at five production sites and three assembly plants ensure the highest level of delivery reliability and quality.

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Language:	English
Company:	Progress-Werk Oberkirch AG
	Industriestraße 8
	77704 Oberkirch
	Germany
Phone:	+49 (0)7802 84-844
Fax:	+49 (0)7802 84-789
E-mail:	ir@progress-werk.de
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, Tradegate Exchange
EQS News ID:	1177981