DGAP-News: Progress-Werk Oberkirch AG / Key word(s): Incoming Orders
- New business exceeds the EUR 600 million threshold (p/y: EUR 280 million)
Oberkirch, December 10, 2015 - PWO is enjoying tremendous success on the market. As of today, the Company has reached a record level of new business volume in the 2015 fiscal year: Over EUR 600 million, or more than double the volume of the previous year, has been achieved to date, EUR 40 million of which are related tool orders.
We were particularly successful in acquiring new large series production orders for cockpit cross-members. Business was driven by both first-time orders from new customers as well as follow-on orders for products already in production. Also strong were electric motor housings and air suspension components - two product areas where we expect continued substantial growth in the future.
These new contracts will ensure the development planned at all our locations. New business was especially resilient in China where volumes exceeded our current annual revenues by a factor of five. We will begin manufacturing new product lines at several of our locations so that we may continue to expand our global capabilities. As is common in our business, the new series productions will begin in the years running up to 2018 and will then continue for another five to eight years.
The premier position we enjoy in the market is also highlighted by the recognition we recently received from Continental and Schaeffler. PWO has belonged to these customers' Premium Supplier Circle since the formation of the purchasing cooperation. Of the two companies' more than 1,200 strategic suppliers, only 37 have been awarded this status in the past six years.
Dr. Volker Simon, Speaker of the Management Board, is very pleased with the new business performance in the current fiscal year: "Our customers have proven we are highly competitive. Innovative strength, global presence, quality, and reliable delivery are the factors that make PWO stand out among the rest. Our current high order volume shows that we meet our customers' high standards every day. We would like to extend our thanks to Continental and Schaeffler for their confidence in PWO. We are very honored to receive this recognition and see it as an incentive to continue providing outstanding performance."
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".
|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|