DGAP-News: Progress-Werk Oberkirch AG: PWO boosts activities on North American market

- New CEO of PWO Canada takes office
- Continuing strong growth anticipated at Canadian and Mexican locations

Oberkirch, February 2, 2022 - PWO is delighted to announce the return of Andreas Haas to the PWO Group and welcomes him as the new CEO of its Canadian subsidiary PWO Canada Inc., which he will run jointly with the CFO of PWO Canada, Lana Takarenka. The current CEO, Karl Schreyer, will successively transfer responsibility to the two officers over the coming weeks. Karl Schreyer will be retiring, as planned, in the second quarter of 2022 after more than 25 years of successful work at PWO.

Andreas Haas has already successfully performed various functions for PWO for many years. Among other things, as the former interim CEO of PWO High-Tech Metal Components (Suzhou) Co., Ltd., he played a key part in substantially enhancing the performance of our Chinese locations and thereby making their profitable growth today possible. After holding a top position at Metaldyne GmbH, which belongs to the American AAM Group, Andreas Haas is now returning to PWO.

He is distinguished by his comprehensive understanding of the changing requirements of our customers in transformation, his vision in assessing market developments on the path towards future mobility and his strong leadership. Andreas Haas is the ideal person to continue the focused development of our activities in North America together with the Canadian and Mexican colleagues.

Together, our locations in Canada and Mexico will continue to form the basis for our strong business in North America. Further rapid growth is currently anticipated there thanks to the start-up and ramp-up of new series productions already underway and the very high level of new business in the previous fiscal year. We will continue to invest in the expansion of our locations there in the years ahead as well.

Progress-Werk Oberkirch AG
The Executive Board

PWO profile
With our innovative, climate-friendly lightweight solutions, we are the preferred partner of the global mobility industry. As an engineering house, we are constantly driving forward the development and production of sophisticated metal components and complex subsystems.

Under the slogan "People, Planet, Progress," we use our technological leadership at the boundaries of what is technologically feasible in metal forming and joining to serve our customers and business partners. Responsibility is at the heart of everything we do. We see our business as a "force for good", as our contribution to a positive development in the future for the benefit of our customers, employees and shareholders as well as for our environment. To this end, we are focusing on digitalizing all of our processes using the tools of the 4th industrial revolution.

We address the 3 areas of the mobility of the future: electrification, safety and comfort. We are already independent of the combustion engine today. Around 3,000 employees at 8 locations on 3 continents ensure maximum delivery reliability and quality.