DGAP-News: Progress-Werk Oberkirch AG

DGAP-News: Progress-Werk Oberkirch AG: PWO Supervisory Board extends the contract of Dr. Volker Simon

DGAP-News: Progress-Werk Oberkirch AG / Key word(s): Contract Progress-Werk Oberkirch AG: PWO Supervisory Board extends the contract of Dr. Volker Simon

19.12.2016 / 08:00 The issuer is solely responsible for the content of this announcement.

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Oberkirch, December 19, 2016 - In its meeting held last Friday, the Supervisory Board of Progress-Werk Oberkirch AG extended the contract of Dr. Volker Simon for an additional five years. Dr. Volker Simon is thereby appointed to the Management Board until June 30, 2022, and will continue to be responsible for the area of Market and Technology.

"In the short time since assuming office, Dr. Volker Simon has been successful in further enhancing PWO's global position, particularly in the area of innovative lightweight solutions. He has also strengthened the Group's position as a premium supplier for our customers' worldwide platform projects, which is the reason PWO is now standing at the beginning of a new phase of rapid and sustainable growth. We look forward to continuing to work together with Dr. Volker Simon in shaping PWO's future," commented Karl M. Schmidhuber, Chairman of the Supervisory Board of Progress-Werk Oberkirch AG.

Dr. Volker Simon has been both the speaker and a member of PWO's Management Board since July 1, 2014. His current contract will run until June 30, 2017.

Progress-Werk Oberkirch AG The Management Board

PWO company profile PWO is one of the world's leading developers and manufacturers of advanced metal components and systems in lightweight construction for automobile safety and comfort. The Group has developed a unique knowledge in the forming and joining of metals over the course of its roughly 97-year history since it was founded in 1919. The German location at Oberkirch today employs around 1,500 staff members. PWO is globally represented with further sites in the Czech Republic, Canada, Mexico, and China. The Group employs a total of 3,100 staff members.

PW0 is a partner to the global automotive industry for the development and production of innovative products in the divisions of "Mechanical components for electrical and electronic applications," "Safety components for airbags, seats and steering" and "Components and subsystems for vehicle bodies and chassis."

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19.12.2016 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

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Language: English Company: Progress-Werk Oberkirch AG Industriestraße 8 77704 Oberkirch Germany Phone: +49 (0)7802 84-347 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



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531031 19.12.2016