EANS-News: Progress-Werk Oberkirch AG
PWO: 2012 shows dynamic growth in new business
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Company Information Subtitle: - New contracts received by mid-April 2012 have a lifetime volume of around EUR 210 million - New business volume has already reached around 70 percent of the total new orders received in 2011 - New contracts secure growth beyond 2014 Oberkirch (euro adhoc) - Oberkirch, April 19, 2012 - The PWO Group expects to continue its high growth in the future due to the strength in new business in the first months of 2012. From January until mid-April 2012, the Group already received contracts for new series productions with a lifetime volume of around EUR 210 million. This represents approximately 70 percent of the total orders received in 2011. The strength in new business underlines our competitive strength resulting from our high innovative power in product and process development. The long lead times in our business -which simultaneously give us high planning security - mean that the start-up and ramp-up of the new contracts will occur in fiscal years 2013/14. They form an essential foundation that will help us to continue our rapid growth beyond 2014. The new contracts have a series production run of five to eight years. Production will take place primarily at our locations in Germany and the Czech Republic but include also volumes for our locations in North America and Asia. These new contracts demonstrate that we win contracts in established markets as well as in growth markets because our product solutions satisfy our customers. This shows that we are on the right track towards achieving above-average growth in relation to the development of the automobile market. The contracts are spread across our entire product range and concern various vehicle models and platforms involving several car manufacturers. This means that we can expect to continue to remain independent of the success of individual car models in the future. Following the award of several major contracts for vehicle body and running gear components (particularly cross members) we showed renewed success in other product areas, especially components for seats, steering, brakes and air suspension systems. Our strategy of having a balanced product portfolio is underpinned by the contracts acquired thus far in 2012. Progress-Werk Oberkirch AG The Management Board PWO company profile PWO is one of the world's leading suppliers of advanced metal components for automobile safety and comfort. The company has developed a particular 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 1,400 staff members. The Group is globally represented with further sites in Canada, the Czech Republic, China and Mexico employs around 2,600 staff members 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". Further inquiry note: Bernd Bartmann (CFO) Phone: +49 7802 / 84-347 Fax: +49 7802 / 84-789 e-Mail: bernd.bartmann@progress-werk.de end of announcement euro adhoc -------------------------------------------------------------------------------- company: Progress-Werk Oberkirch AG Industriestraße 8 D-77704 Oberkirch phone: +49(0)7802 84-0 mail: info@progress-werk.de WWW: http://www.progress-werk.de sector: Automotive Equipment ISIN: DE0006968001 indexes: stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing/prime standard: Frankfurt language: English
Original-Content von: Progress-Werk Oberkirch AG, übermittelt durch news aktuell