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EQS-News: PWO AG / Key word(s): Expansion/Strategic Company Decision
PWO AG continues growth
2024-05-28 / 16:07 CET/CEST
The issuer is solely responsible for the content of this announcement.
Press release
PWO AG continues growth
Carlo Lazzarini (CEO): "The PWO Group's momentum continues unabated: With our new site in Serbia, we are once again
strengthening our market position."
. Groundbreaking ceremony for new engineering and production site
. First series production scheduled for end of 2025
. Several series orders already won for the new site
Oberkirch, May 28, 2024 - In the presence of Serbian President Aleksandar Vucic, Ms. Konrad, German ambassador to
Serbia, and the Mayor of the central Serbian city of Cacak, Milun Todorovic, the PWO Group today celebrated the laying
of the foundation stone for its new engineering and production site, which will form a technology cluster with the
tooling company acquired in Serbia in 2023.
By the end of 2025, the first components and systems manufactured here will be delivered to customers from the PWO
Group's tenth location.
For Carlo Lazzarini, CEO of the PWO Group, Serbia is a winner in the ongoing reorganization of the European mobility
industry. "We believe in this location, as do many of our customers who have been engineering and producing here for
several years."
Numerous renowned European and international companies, also from the mobility industry, have established engineering
and production facilities in Serbia in recent years. German companies alone currently employ several thousand people.
While initially it was mainly labor-intensive production that was relocated to Serbia, companies are increasingly
locating parts of their engineering and development in Serbia in addition to their production. This means that the
country will also play an important role in shaping the mobility of the future.
The volume of inquiries PWO regularly receives from Eastern Europe is steadily increasing. Our locations in the Czech
Republic will not be able to handle this volume in the future - despite the use of existing expansion options. That is
why we needed another site in Eastern Europe.
The 100,000-square-meter plot in Cacak, which we acquired last year, will create more than 500 attractive jobs in the
coming years. As a global company, we can also offer our future employees international prospects for their personal
and professional development.
We also want to contribute to the development of the town of Cacak, for example by seeking partnerships with local
schools and colleges, and by working with local companies and suppliers.
And it goes without saying that this new PWO Group site will operate with the smallest possible carbon footprint from
the very beginning.

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 Group: Pushing boundaries in lightweight metal solutions
2,000 PRODUCT SOLUTIONS | 3,000 EMPLOYEES | 9 LOCATIONS | OVER 100 YEARS OF 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 meaningful environment
for realizing their personal prospects. Transparent and responsible corporate governance is an integral part of our
self-image.
Our corporate strategy is summed up in the slogan PEOPLE. PLANET. PROGRESS.
2024-05-28 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com  
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: 1912919

End of News EQS News Service
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1912919 2024-05-28 CET/CEST

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END) Dow Jones Newswires

May 28, 2024 10:07 ET (14:07 GMT)