PWO AG continues growth

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 Vučić, Ms. Konrad, German ambassador to Serbia, and the Mayor of the central Serbian city of Čačak, Milun Todorović, 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 Čačak, 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 Čačak, 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