PWO AG / DE0006968001

PWO Group advances its sustainability strategy with the purchase of “green steel” starting in 2026

PWO AG / Key word(s): Sustainability/ESG


13.12.2023 / 09:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

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  Carlo Lazzarini (CEO): "We have already achieved extensive reductions in greenhouse gas emissions in our production and energy procurement processes. Now we are also accelerating the decarbonization of our value chain. This step reiterates our commitment to our ambitious climate protection goals." Oberkirch, December 13, 2023 – The PWO Group continues to implement its sustainability strategy at a rapid pace. In order to reduce greenhouse gas (GHG) emissions when purchasing steel, the most important raw material for our business, we signed a partnership agreement with Salzgitter Mannesmann Stahlservice GmbH — a subsidiary of Salzgitter AG — to purchase "green steel" from Salzgitter starting in 2026. This will enable us to offer our customers an environmentally friendly alternative to conventionally produced steel in the future. With the "SALCOS® - Salzgitter Low CO2 Steelmaking" transformation program, the Salzgitter Group will gradually convert its steel production to hydrogen-based processes. The aim is to achieve virtually CO2-free production starting in 2033. The classic blast furnace route is to be replaced by a production route using direct reduction and electric arc furnaces. Jochen Lischer, CFO, emphasizes: "Our agreement represents a milestone in the decarbonization of our value chain. By 2030, we want to reduce our absolute GHG emissions in Scope 3 by 28.0 percent versus the base year of 2019. The purchase of "green steel" from Salzgitter Mannesmann Stahlservice GmbH, with a CO2 footprint in production that is up to 95 percent lower, will help us to realize this goal." Michael van der Vlist, Managing Director of Salzgitter Mannesmann Stahlservice GmbH, adds: "We are delighted to be expanding our cooperation with the PWO Group in such a forward-thinking manner. The successful transformation to a climate-neutral economy depends on a network of strong partners who ensure that the market for CO2-reduced steel products continues to grow."   PWO AG & SMS
The Executive Board & The Management   Contact PWO:
Charlotte Frenzel
Investor Relations & Corporate Communications

T. [phone]
E-Mail: [e-mail]    

PWO Group: Pushing boundaries in lightweight metal solutions   1,200 PRODUCT SOLUTIONS | 3,000 EMPLOYEES | 9 LOCATIONS | OVER 100 YEARS OF EXPERIENCE We are a global company in the mobility industry that is helping to shape the environmentally friendly mobility of the future through innovations and is entirely independent of combustion engines.

With our expertise in climate-friendly lightweight construction, we are technology leaders and combine economic efficiency with sustainability. We develop and produce sophisticated metal components and complex subsystems at the frontiers of what is technologically feasible. We meet the challenges of our time with innovative and sustainable concepts. Above all, we want to seize the opportunities it offers. As a value-based employer with informal structures at a global level, we thus offer our employees a meaningful environment for realizing their personal prospects. Transparent and responsible corporate governance is an integral part of our self-image. Our corporate strategy is summed up by the slogan PEOPLE. PLANET. PROGRESS.

  Contact SMS:
Andreas Marks
Marketing & Business Development T. [phone]
M. [phone]
E-Mail: [e-mail]

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13.12.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:	English
Company:	PWO AG
	Industriestraße 8
	77704 Oberkirch
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.pwo-group.com
ISIN:	DE0006968001
WKN:	696800
Listed:	Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange
EQS News ID:	1795385

End of News	EQS News Service

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1795385  13.12.2023 CET/CEST