Progress-Werk Oberkirch AG / Key word(s): Miscellaneous
Oberkirch, October 10, 2014 - At what has now become a tradition, yesterday's Capital Market Day gave analysts and investors another chance to gain a first-hand impression of PWO Group's headquarters in Oberkirch. All three members of the Management Board gave presentations and were available to answer questions on current issues surrounding PWO and the development of the international automotive markets. In addition to presentations, participants were given the opportunity to gain further insight into PWO's capabilities and the future technology of cold forming of metals via a factory tour.
In his remarks, Dr. Volker Simon, Chief Executive Officer, pointed to society's global megatrends and their influence on the international automotive industry. Demand for greater individual mobility is also growing as an expression of progressing globalization and urbanization. However, in order to achieve "mobility for everyone" more must be done than simply considering new usage concepts such as "car sharing". To be suitable for the masses, future solutions must first and foremost meet the basic requirements, which are often mutually exclusive. These solutions must meet the requirement for "zero accidents", i.e., meet the highest possible safety requirements, and be as lightweight as possible at the same time. No manufacturer today can win the approval of its customers without "clean power", that is, the permanent reduction of weight and thus lower fuel consumption and pollution emissions. Of course, it is clear that this cannot be achieved at the expense of comfort. These solutions must have full functionality and, above all, be priced attractively.
PWO is well-positioned to meet these requirements, according to Dr. Simon. As a developer and producer of sophisticated metal components and subsystems, the Group makes a tremendous contribution to automotive safety and comfort: From precision motor housings for ABS and ESP systems to safety components for airbags, steering, and vehicle stability. PWO's components for seats and suspension increase comfort. When it comes to excellent forming and process capabilities in lightweight construction, PWO plays an important role in lower fuel consumption and fewer emissions and also keeps costs under control. It was at this point that PWO's "cost-optimized lightweight construction" concept was met with the keen interest of the Capital Markets Day's guests. Due to its core capabilities in the forming of high-strength steels and aluminum, PWO is able to achieve a combination of resource- and cost-savings, while at the same time minimizing the use of materials and processing steps. "This enables us to meet the different requirements simultaneously: lightweight, safe, and competitively priced", commented Dr. Simon.
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:||Regulierter Markt in Frankfurt (Prime Standard), Stuttgart; Freiverkehr in Berlin, Düsseldorf, Hamburg, München|
|End of News||DGAP News-Service|