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.
2015-08-19 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.