EANS-News: Progress-Werk Oberkirch AG / PWO: 2012 shows dynamic growth in new business

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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
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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