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PWO lays the foundation for even faster revenue growth at its Mexican site

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DGAP-News: Progress-Werk Oberkirch AG / Key word(s): Expansion
20.09.2021 / 14:35
The issuer is solely responsible for the content of this announcement.

Press release

PWO lays the foundation for even faster revenue growth at its Mexican site

- Groundbreaking ceremony for new logistics hall

- Additional capacity for start-ups and ramp-ups of new series productions

- Expansion of cleaning capacity for metal components with state-of-the-art, sustainable technology

Groundbreaking

Groundbreaking ceremony for new logistics hall at PWO's site in Mexico. Left to right: Edgardo Román, CEO PWO de México, Carlo Lazzarini, CEO PWO AG, Günter Friedrich Multhaup, CFO PWO de México


Oberkirch, September 20, 2021 - PWO AG's Mexican site is heading for a new phase of high growth. In order to realize this while maintaining process safety and efficiency, a new logistics hall with more than 1,200 square meters of space is being built. A groundbreaking ceremony just held marks construction commencement. It is scheduled to go into operation in the first quarter of 2022.

Despite the coronavirus pandemic, our Mexican site has performed very successfully in recent years. In the first half of 2021, revenue was already significantly higher than in the first half of 2019. At the same time, a high volume of new orders has been acquired in recent years - in the first half of 2021 alone, new business significantly exceeded the total revenue of 2020 and of the pre-coronavirus year of 2019.

The new hall will increase the logistics space at the Mexican site by around fifty percent, securing the future start-up and ramp-up of new series productions. At the same time, the material flow at the site, which is already operating at high capacity, can thus be significantly improved in order to gain additional space in the production areas.

The additional space will be used to increase cleaning capacity for metal components, likewise by around fifty percent. This will be achieved with state-of-the-art technology that is both efficient and environmentally friendly, helping to reduce energy consumption and the use of solvents. Undesirable aerosol formation can also be prevented.

Carlo Lazzarini is optimistic for the future: "With the new logistics hall, we are investing in growth from definite new orders. At the same time, we are fulfilling our responsibility for the environment and the production of future generations' living conditions: Growth with increasingly environmentally friendly production processes. This is at the heart of our self-image."

Progress-Werk Oberkirch AG
The Executive Board

PWO profile
With our innovative lightweight solutions, we are the preferred partner of the global mobility industry. As an engineering house, we are constantly driving forward the development and production of sophisticated metal components and complex subsystems.

Under the slogan "People, Planet, Progress," we use our technological leadership at the boundaries of what is technologically feasible in metal forming and joining to serve our customers and business partners. Responsibility is at the heart of everything we do. We see our business as a "force for good," as our contribution to a positive development in the future for the benefit of our customers, employees and shareholders as well as for our environment. To this end, we are focusing on digitalizing all of our processes using the tools of the fourth industrial revolution.

We address the three areas of the mobility of the future: electrification, safety and comfort. More than 90 percent of our revenue is independent of combustion engines. Around 3,000 employees at 5 production locations and 3 assembly sites on three continents ensure maximum delivery reliability and quality.


20.09.2021 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

Progress-Werk Oberkirch AG

Industriestraße 8

77704 Oberkirch

Germany

Phone:

+49 (0)7802 84-844

Fax:

+49 (0)7802 84-789

E-mail:

ir@progress-werk.de

Internet:

www.progress-werk.de

ISIN:

DE0006968001

WKN:

696800

Listed:

Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange

EQS News ID:

1234596


End of News

DGAP News Service

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