from Progress-Werk Oberkirch AG (isin : DE0006968001)
PWO Group expands Mexican locations further
EQS-News: PWO AG / Key word(s): Expansion
PWO Group expands Mexican locations further
18.07.2024 / 17:06 CET/CEST
The issuer is solely responsible for the content of this announcement.
PWO Group expands Mexican locations further
Carlo Lazzarini (CEO): “We have acquired a high volume of new business in Mexico in recent years. Now we are preparing our locations for further profitable growth by adding additional space for tool logistics.”
Oberkirch, July 18, 2024 – The PWO Group will more than double capacity in tool logistics in Mexico by the end of this year. Approximately EUR 1 million will be invested in new space and cutting-edge equipment.
The new logistics spaces will be directly next to the locations currently in use and the existing buildings in order to achieve the highest increases in efficiency and process improvements, enabling even more flexible fulfillment of customer demands.
The expansion of the warehouse and logistics infrastructure in tool management will allow the company to further optimize production processes in future and thus largely avoid bottlenecks. Better use of the available space will also lead to lower warehouse and personnel costs.
Our high-growth locations in Mexico
The two locations in Mexico are among the PWO Group’s growth drivers. With revenue of EUR 113.3 million, these locations increased their share of consolidated Group revenue to more than 20 percent in 2023. This trend is set to continue. Thanks to their skill in developing and manufacturing innovative product solutions using climate-friendly lightweight construction at the cutting edge of what is technologically possible, our locations are continuously able to expand their market positions. In order to further boost their competitiveness, photovoltaics will be installed to generate electricity and the remaining purchased electricity will be made completely climate neutral through instruments recognized by SBTi.
PWO AG
The Executive Board
Contact:
Charlotte Frenzel
Investor Relations & Corporate Communications
T. +49 179 / 6904 237
M. charlotte.frenzel.ext.ma@pwo-group.com
PWO-Gruppe: Pushing boundaries in lightweight metal solutions
2,000 PRODUCT SOLUTIONS | 3,000 EMPLOYEES | 9 LOCATIONS | MORE THAN 100 YEARS’ 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 mean-ingful environment for realizing their personal prospects. Transparent and responsible corporate govern-ance is an integral part of our self-image.
Our corporate strategy is summed up in the slogan PEOPLE. PLANET. PROGRESS.
18.07.2024 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: | +49 (0)7802 84-844 |
| Fax: | +49 (0)7802 84-789 |
| E-mail: | ir@pwo-group.com |
| 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: | 1949457 |
| End of News | EQS News Service |
1949457 18.07.2024 CET/CEST