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18.05.2011 – 11:32

Progress-Werk Oberkirch AG

EANS-News: Progress-Werk Oberkirch AG
PWO reports continued high level of new order intake

- New orders won with lifetime volume of more than EUR 120 million - All PWO sites benefit - Expected revenue growth of up to 15% p.a., also beyond 2012

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Company Information

Subtitle: - New orders won with lifetime volume of more than EUR 120 million - All PWO sites benefit - Expected revenue growth of up to 15% p.a., also beyond 2012

Oberkirch (euro adhoc) - Oberkirch, May 18, 2011 - PWO is currently making highly successful progress on the market. In the first four months of 2011, the company has already won new orders for the series production runs for high-end metal components and subsystems with a lifetime volume of more than EUR 120 million. Due to the long lead times in our business, which also represent a high degree of planning security, the new orders will start up and ramp up in the financial years from 2013. They will contribute to allowing us to continue our budgeted high revenue growth of up to 15% p.a. over the next two years, as well as beyond 2012. The Group's profitability is also to be continuously strengthened over the coming years.

The new orders have a series duration of between six and eight years, and affect all PWO sites. They thereby confirm the success of our international positioning in Europe, NAFTA and Asia. The components relate to various platforms and vehicle models of several manufacturers. This will allow us to remain largely independent of the market success of individual models in the future. After having won several major orders for car body and chassis components (mainly cross-members) in recent years, we have recently made a successful return to other product areas such as airbags, seats and steering. The orders that we have now acquired allow us to continue our strategy of managing a balanced product portfolio, and of thereby continuing the Group's ongoing growth.

Progress-Werk Oberkirch AG The Management Board

PWO company profile PWO is one of the world's leading suppliers of high-end metal components for automobile safety and comfort. The company has developed 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 today employs around 1,200 staff members. The Group is globally represented with further sites in China, Canada, Mexico and the Czech Republic, and employs around 2,200 staff around the world.

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

end of announcement                               euro adhoc
company:     Progress-Werk Oberkirch AG
          Industriestraße 8
          D-77704 Oberkirch
phone:       +49(0)7802 84-0
sector:      Automotive Equipment
ISIN:        DE0006968001
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
          Hamburg, Stuttgart, Düsseldorf, München
language: English 

Further inquiry note:

Bernd Bartmann (CFO)
Phone: +49 7802 / 84-347
Fax: +49 7802 / 84-789

Branche: Automotive Equipment
ISIN: DE0006968001
WKN: 696800
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade

Original content of: Progress-Werk Oberkirch AG, transmitted by news aktuell

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