Progress-Werk Oberkirch AG

DGAP-News: Progress-Werk Oberkirch AG / Key word(s): Incoming Orders

06.12.2017 / 08:00
The issuer is solely responsible for the content of this announcement.


 

- Company supplies instrument panel carriers for the first time to the important American pickup truck market
- Another major success for PWO's innovative lightweight solutions made of steel
- Order has lifetime volume totaling EUR 80 million
- Target for new business in 2017 rises to more than EUR 300 million

Oberkirch, December 6, 2017 - PWO won the tender for a major order for the production of instrument panel carriers. The Company will supply two of Ford's vehicle models, Bronco and Ranger, from PWO's Canadian location. This not only strengthens PWO's relationship with this important customer but also represents the first time the Company is supplying instrument panel carriers to the important American pickup truck market.

The lifetime volume of the contract amounts to EUR 80 million, including EUR 6 million for related tool orders. The expected volume of new business for the current fiscal year increases accordingly from the previous forecast of around EUR 250 million to a forecast of more than EUR 300 million. Series production is scheduled to begin in the years 2020 and 2022 and run for a total of 8 years.

Dr. Volker Simon, CEO of PWO, is very pleased with the order: "Our innovative lightweight solutions for instrument panel carriers made of steel continue to be in high demand. With the addition of two new vehicle models, we are again expanding the range of models we serve. This is the first time we are supplying our customers in this vehicle segment with instrument panel carriers, which means the order represents additional growth for PWO and underscores our competitive strength and the growth prospects of the PWO Group beyond 2020."

Progress-Werk Oberkirch AG
The Management Board
 

PWO company profile
PWO is a partner to the global automotive 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 almost 100-year history since it was founded in 1919. With our expertise in cost-efficient lightweight construction, we contribute to environmentally friendly driving and greater distances in e-mobility.

All of the Group's more than 1,000 products contribute to automotive comfort and safety. 93 percent of revenue is independent of the vehicle's type of drivetrain. Approximately 3,400 employees on three continents at five production sites and two assembly plants, ensure the highest level of delivery reliability and quality.



06.12.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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