PWO AG / DE0006968001

PWO AG continues growth

PWO AG / Key word(s): Expansion/Strategic Company Decision


28.05.2024 / 16:07 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Press release Carlo Lazzarini (CEO): "The PWO Group's momentum continues unabated: With our new site in Serbia, we are once again strengthening our market position." Groundbreaking ceremony for new engineering and production site First series production scheduled for end of 2025 Several series orders already won for the new site Oberkirch, May 28, 2024 - In the presence of Serbian President Aleksandar Vu?i?, Ms. Konrad, German ambassador to Serbia, and the Mayor of the central Serbian city of ?a?ak, Milun Todorovi?, the PWO Group today celebrated the laying of the foundation stone for its new engineering and production site, which will form a technology cluster with the tooling company acquired in Serbia in 2023. By the end of 2025, the first components and systems manufactured here will be delivered to customers from the PWO Group's tenth location. For Carlo Lazzarini, CEO of the PWO Group, Serbia is a winner in the ongoing reorganization of the European mobility industry. "We believe in this location, as do many of our customers who have been engineering and producing here for several years.” Numerous renowned European and international companies, also from the mobility industry, have established engineering and production facilities in Serbia in recent years. German companies alone currently employ several thousand people. While initially it was mainly labor-intensive production that was relocated to Serbia, companies are increasingly locating parts of their engineering and development in Serbia in addition to their production. This means that the country will also play an important role in shaping the mobility of the future. The volume of inquiries PWO regularly receives from Eastern Europe is steadily increasing. Our locations in the Czech Republic will not be able to handle this volume in the future - despite the use of existing expansion options. That is why we needed another site in Eastern Europe. The 100,000-square-meter plot in ?a?ak, which we acquired last year, will create more than 500 attractive jobs in the coming years. As a global company, we can also offer our future employees international prospects for their personal and professional development. We also want to contribute to the development of the town of ?a?ak, for example by seeking partnerships with local schools and colleges, and by working with local companies and suppliers. And it goes without saying that this new PWO Group site will operate with the smallest possible carbon footprint from the very beginning.
  PWO AG The Executive Board   Contact:
Charlotte Frenzel
Investor Relations & Corporate Communications T. +49 179 / 6904 237
M. [e-mail]  

PWO Group: Pushing boundaries in lightweight metal solutions 2,000 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. And above all, we aim to seize the opportunities they offer. As a values-based employer with informal structures at a global level, we 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 in the slogan PEOPLE. PLANET. PROGRESS.

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28.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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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:	1912919

End of News	EQS News Service

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1912919  28.05.2024 CET/CEST