DGAP-News: Progress-Werk Oberkirch AG: PWO's Annual General Meeting in the spirit of the Company's '100-year anniversary

- 68 percent of the share capital represented
- Dividend amounts to EUR 1.10 with additional anniversary dividend of EUR 0.25 per share for total distribution of EUR 1.35 (p/y: EUR 1.65)

Oberkirch, May 23, 2019 - In its report to yesterday's Annual General Meeting, the Company's Management Board reviewed the significant developments that took place in the 2018 fiscal year in the context of the Company's long and successful history, which started in September 1919, with the founding of "Progreß-Werk Oberkirch Aktiengesellschaft" by seven bold entrepreneurs.

Over the past 100 years, PWO has successfully mastered major social, political and economic changes and upheavals. The Company's name, its legal form as a stock corporation, its home location in Oberkirch, as well as its focus on metal forming and processing have remained the same over the decades. We have repeatedly adapted our production program, which has included air pumps, defense equipment, field kitchens, motor scooters, ceiling systems for the construction industry and - almost since our founding - components and systems for the automotive industry.

Today, we are a globally operating automotive supplier with an excellent market position. Our own analyzes, industry experts and major customers confirm that we have the right range of services and products for the future. From this position, we intend to achieve further growth in the future, especially in the key markets Europe, North America and China.

The shareholders approved the proposals of the management to the Annual General Meeting and adopted all draft resolutions almost unanimously. In addition to presenting the adopted financial statements, the agenda also included the appropriation of retained earnings, the discharge of the members of the Management and the Supervisory Boards, and the election of the auditors.

Progress-Werk Oberkirch AG
The Management Board

PWO company profile
PWO is a partner to the global automotive industry for the development and production of advanced metal components and subsystems using lightweight construction. The Group has developed a unique knowledge in the forming and joining of metals over the course of its 100-year history since it was founded in 1919. With our expertise in cost-efficient lightweight construction, we contribute to environmentally friendly driving and greater distances.

All of the Group's more than 1,000 products contribute to automotive comfort and safety. More than 90 percent of revenue is independent of the vehicle's type of drivetrain. Approximately 3,400 employees on three continents at five production sites and four assembly plants ensure the highest level of delivery reliability and quality.