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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

PRESS RELEASE: Progress-Werk Oberkirch AG: PWO stńrkt Fokus auf den chinesischen Markt weiter

05/25/2021 | 05:16am EDT
DGAP-News: Progress-Werk Oberkirch AG / Key word(s): Personnel 
Progress-Werk Oberkirch AG: PWO stärkt Fokus auf den chinesischen Markt weiter 
2021-05-25 / 11:14 
The issuer is solely responsible for the content of this announcement. 
- New CEO of PWO China takes up his duties today 
- PWO's market presence in China to expand even faster in the future 
Oberkirch, May 25, 2021 - PWO welcomes Gary Guo as the new CEO of its Chinese subsidiary, PWO High-Tech Metal 
Components (Suzhou) Co., Ltd. He is assuming his duties today as the successor to Steven Liu, who successfully led the 
company through the corona pandemic and will seek other challenges outside of the Group. 
Gary Guo has extensive experience in the mobility industry. Over the past two decades, he has held a variety of 
management positions at Bosch and Continental, as well as at the US industrial group Enerpac Tool Group (formerly 
Actuant). He combines a deep understanding of the market and customer requirements in our industry with great 
enthusiasm for the opportunities and prospects of future mobility. 
We plan to expand our business in China over the next few years, making it a key driver of the PWO Group's growth. Gary 
Guo is the ideal leader to implement these goals. He will continue to strengthen the core competencies of our Chinese 
locations and expand their technological capabilities even more. 
Underlying our plans for high growth is the broad range of solutions already manufactured at our Chinese locations in 
Suzhou and Shenyang. With innovative lightweight solutions and the utmost in delivery reliability and quality over the 
entire life cycle of series production, we have earned a strong reputation in the market. This was proven to us once 
again in April by our customers and the numerous new contacts we made at Auto Shanghai, the leading trade show for the 
automotive industry in Asia. 
Progress-Werk Oberkirch AG 
The Executive Board 
Company Profile PWO 
With our innovative 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 fourth industrial revolution. 
We address the three areas of the mobility of the future: electrification, safety and comfort. More than 90 percent of 
our revenues is independent of combustion engines. Around 3,000 employees at five production locations and three 
assembly sites on three continents ensure maximum delivery reliability and quality. 
2021-05-25 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
Language:     English 
Company:      Progress-Werk Oberkirch AG 
              Industriestraße 8 
              77704 Oberkirch 
Phone:        +49 (0)7802 84-844 
Fax:          +49 (0)7802 84-789 
E-mail:       ir@progress-werk.de 
Internet:     www.progress-werk.de 
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:  1200310 
End of News   DGAP News Service 

1200310 2021-05-25

Image link: 

(END) Dow Jones Newswires

May 25, 2021 05:15 ET (09:15 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 0.10% 34798 Delayed Quote.13.59%
ENERPAC TOOL GROUP CORP. -0.90% 23.07 Delayed Quote.2.03%
PROGRESS-WERK OBERKIRCH AG 0.67% 30 Delayed Quote.54.64%
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Sales 2021 443 M 519 M 519 M
Net income 2021 10,4 M 12,2 M 12,2 M
Net Debt 2021 112 M 132 M 132 M
P/E ratio 2021 9,02x
Yield 2021 3,71%
Capitalization 93,8 M 110 M 110 M
EV / Sales 2021 0,46x
EV / Sales 2022 0,46x
Nbr of Employees 3 086
Free-Float 53,3%
Duration : Period :
Progress-Werk Oberkirch AG Technical Analysis Chart | PWO | DE0006968001 | MarketScreener
Technical analysis trends PROGRESS-WERK OBERKIRCH AG
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 2
Last Close Price 30,00 €
Average target price 31,90 €
Spread / Average Target 6,33%
EPS Revisions
Managers and Directors
Carlo Lazzarini Chief Executive Officer
Cornelia Ballwie▀er CFO, Head-Finance & Administration
Karl M. Schmidhuber Chairman-Supervisory Board
Johannes Obrecht Chief Operating Officer
Dieter Maier Honorary Chairman
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