PWO with new production site in China

• PWO positions itself at one of the largest foreign production sites in the German automotive industry

Oberkirch, April 17, 2009 - Today, approximately a year after receiving the business licence for a wholly-owned subsidiary in China, PWO opened a new factory in Suzhou, near Shanghai, and will start operations with both metal-forming presses.

As a result, the company now has the opportunity to supply numerous European customers at one of its major foreign sites and strengthen its reputation as a global strategic partner. In addition, this also provides PWO with access to new customers in Asia in the medium term. Component production for a major German customer is currently being started.

Progress-Werk Oberkirch AG

The Management Board