DGAP-Adhoc

PWO raises new business forecast due to high level to date and intends to expand capacity in eastern Europe - Seite 2

We anticipate a sustained high level of new business in the future. As the European mobility industry has shifted added value to eastern Europe on a massive scale in recent years, a very high share of current inquiries relates to production there. Our current Czech locations will not be able to meet this additional demand in the long run, as their expansion capacity will be exhausted in the medium term. For this reason, the Executive Board today adopted the strategic resolution to expand capacity in eastern Europe in the future and give the PWO Group an additional eastern European location. Details of this will be communicated in due course.

PWO is appreciated by its customers worldwide as a partner in the transformation of the sustainable mobility industry. This is particularly reflected in the high level of new business. We are making systematic use of our options to generate further targeted growth. New sales markets will also contribute to this. With the order for fuel cell components, we have shown that we can successfully apply our extensive expertise at the frontiers of what is technologically possible in metal forming and associated joining technologies to new products. This underscores the company's high level of innovative strength.

Progress-Werk Oberkirch AG
The Executive Board

End of ad hoc disclosure

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09-Jun-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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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, Tradegate Exchange
EQS News ID:	1372461