Press Release

PWO's new business volume considerably exceeds the prior year's level

Oberkirch, November 27, 2013 - Progress-Werk Oberkirch AG was again able to win numerous new orders in the current fiscal year. The lifetime volume of future series productions achieved by the PWO Group year-to-date has exceeded EUR 400 million. Additionally, corresponding tool sales amount to approximately EUR 30 million. In fiscal year 2012, we had attained series orders with a lifetime volume of EUR 350 million and corresponding tool sales of EUR 25 million.

In the current year, a large number of new orders are concentrated in the areas of electric engine housings and seat components. Our Czech location in particular will benefit from these orders and will significantly expand its operations. We are also very pleased to be awarded a further large order for the production of cross-members at our Chinese site. Additionally, we received a number of new orders in the area of air suspension systems for passenger cars and SUVs. Here, we are the leading vendor worldwide and have been able to further strengthen our market position.

A key factor in this success is our continued innovative strength which enables us to offer optimum solutions in terms of weight reduction, usage of space, functionality, and cost. Our global presence combined with sophisticated logistics concepts ensures the efficient, global delivery of our customers' locations.

The new contracts predominantly have a lifetime of five to eight years and a majority of these contracts will begin in 2015. These contracts are distributed throughout all of our production locations and will contribute to securing these locations' future utilization and growth.

Progress-Werk Oberkirch AG
The Management Board

PWO company profile
PWO is one of the world's leading developers and manufacturers of advanced metal components and systems in lightweight construction for automotive safety and comfort. The company has developed a unique knowledge in the forming and joining of metals over the course of its over 90-year history since it was founded in 1919. The German location at Oberkirch currently employs over 1,500 staff members. The Group is globally represented with further sites in Canada, the Czech Republic, China, and Mexico and employs around 3,100 staff members around the world.

PW0 is a partner to the global automotive industry for the development and production of innovative products in the divisions 'Mechanical components for electrical and electronic applications', 'Safety components for airbags, seats and steering' and 'Components and systems for vehicle bodies and chassis'.