Progress-Werk Oberkirch (PWO) has unveiled fiscal 2015 net income up EUR200,000 to EUR7.5m (US$8.5m), as well as Group revenue rising from EUR381m to EUR405m.
The supplier won new contracts for series productions with a lifetime volume of almost EUR200m and contracts for the related tools of around EUR10m. For full year 2015, the volume of series production orders amounted to EUR560m and related tool volumes were EUR40m.
The new business acquired in the first quarter includes a major contract from Daimler for a pressure accumulator, for the air suspension and two other deals, one from BMW in China and one from Ford in Mexico, for instrument panel carriers (cockpit cross members).
“Because of the orders received from our customers BMW, Daimler, and Ford in Mexico, we are currently examining the possibility of building a new assembly location in the north of Mexico that would be conveniently located near our customers’ operations,” said a PWO statement.
“We are drawing from the experience gained last year when we set up our first assembly location in Shenyang, China, which commenced operations on schedule and within the allocated budget.
“The start of production for the majority of new orders won in the first months of 2016 is planned for fiscal years 2017 and 2018. Most of the series have a term of seven to nine years.”