Corporate | 19 August 2015 08:00

Progress-Werk Oberkirch AG: PWO wins global large order for lightweight cross-members

Progress-Werk Oberkirch AG / Key word(s): Incoming Orders

2015-08-19 / 08:00

Press Release

PWO wins global large order for lightweight cross-members

– Another success for PWO: A contract for cockpit cross-members for a global platform

– Replacement of previous polymer hybrid cross-member with lightweight steel solution

– Lifetime volume of more than EUR 100 million

Oberkirch, August 19, 2015 – Progress-Werk Oberkirch AG has received a contract from a premium car manufacturer in Southern Germany for the development and production of cockpit cross-members. PWO prevailed against strong competitors with the decisive factors being among others PWO’s expertise in lightweight construction, and the Company’s global footprint, which was an appealing aspect for the OEM. Having this global footprint is a key factor, particularly for modules of this size in combination with global vehicle platforms. The customer’s previous polymer hybrid cross-member made of aluminum and synthetic material will be replaced by the lightweight steel concept from PWO. This lightweight steel solution provides an ideal cost-benefit ratio for the global production of this series.

The volume of the contract is well over EUR 100 million. Starting in 2018, approximately seven million cross-members in different variations will be delivered worldwide over a period of ten years.

Dr. Volker Simon, Speaker of the Management Board, is very pleased with this contract: “In particular due to our extensive expertise in lightweight construction, we have now been able to win the trust of our longstanding customer also for a new global project for cross-members. For the first time, we will also be delivering to the customer’s Japanese cooperation partner in Mexico. With this contract, we are now the supplier of choice for cockpit cross-members for the large volume platforms of nearly all our OEM customers.”

In the future, PWO will be producing cross-members at all of the Group’s five production locations – Germany, the Czech Republic, Canada, Mexico, and China. Other regions are covered by cooperation partners.

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 automobile safety and comfort. The company has
developed a unique knowledge in the forming and joining of metals over the course of its 95-year history since it was founded in 1919. The German location at Oberkirch today employs around 1,500 staff members. The Group is globally represented with further sites in China, Canada,
Mexico, and the Czech Republic. It employs around 3,100 staff members worldwide.

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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Language:	English
Company:	Progress-Werk Oberkirch AG
	Industriestraße 8
	77704 Oberkirch
	Germany
Phone:	+49 (0)7802 84-0
Fax:	+49 (0)7802 84-273
E-mail:	info@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

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387733  2015-08-19