Progress-Werk Oberkirch AG / Key word(s): Expansion/Miscellaneous
Building expansion completed at Czech Republic location
- Location's floor space more than doubled
- Preparations being made for operation of first additional 1,250 ton press
- New capacity is already fully utilised
Oberkirch, July 6, 2015 - By completing the construction of additional production space, Progress-Werk Oberkirch AG nearly finished the construction measures that were part of the strategic expansion of its Czech location announced in the summer of 2014. A sum of almost EUR 25 million was invested in the current expansion, which sets the stage for the location's continued growth.
Investments include a new press facility as well as a new assembly and logistics facility with operating space totalling 12,000 m². These investments more than doubled the space of this location. A portion of the assembly and logistics facility was already brought into operation at the end of 2014. Soon, PWO will initiate the operation of the first new 1,250 ton press. An additional 800 ton press is expected to be installed in early 2016.
Dr. Winfried Blümel, a member of Progress-Werk Oberkirch AG's Management Board and Chairman of the Supervisory Board of PWO Czech Republic a.s., who greeted not only employees but also numerous guests from the worlds of politics and business is very pleased with the development of the Valašské Meziříčí location: "This location has been a part of the PWO Group for 10 years and has been an excellent investment. Our colleagues deliver high performance in all areas every day and I would like to extend my appreciation for this commitment. Our coming together today for this happy occasion is also a result of their efforts."
Dr. Volker Simon, Speaker of the Management Board of Progress-Werk Oberkirch AG, also considers the Czech subsidiary well equipped to further strengthen its market position: "This expansion gives us additional opportunities to meet customer demands more efficiently and more flexibly and to become an even more capable partner in the eyes of our customers. These enhancements will contribute to the Czech location's development into the second significant pillar of the PWO Group."
Progress-Werk Oberkirch AG
PWO company profile
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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|Company:||Progress-Werk Oberkirch AG|
|Phone:||+49 (0)7802 84-0|
|Fax:||+49 (0)7802 84-273|
|Listed:||Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich|
|End of News||DGAP News-Service|