HPW Metallwerk expands to America with major order from an international OEM

- Major order for PEEK-insulated high-performance wires in the mid three-digit million EUR range

- New production site in the USA planned with investment volume of EUR 30 million

- HPW continues to expand its technology leadership and strengthens positioning on the American market

- Experienced automotive expert Jan Seumenicht is responsible for the development of the location for the US market as Managing Director

Linz, 13 September 2023 - HPW Metallwerk GmbH (HPW) is pushing ahead with its international expansion. As part of a major order from a well-known automotive manufacturer, HPW will open a production site in the USA. HPW will produce high-performance wires with PEEK insulation for e-mobility for the globally active OEM. The order volume is in the mid three-digit million EUR range and will have an impact on sales in the project period 2025 to 2030. With this major order, HPW is strengthening its technological competence in the high-tech area of flat and performance wires for the rapidly growing e-mobility industry. The investment volume for the US plant amounts to EUR 30 million. The construction of the production capacities is scheduled to begin in 2024.

The new location will enable HPW to further expand its international positioning in America. The American automotive market offers attractive potential, especially in the area of electric vehicles, also due to the positive investment climate. According to market studies, the market for electric vehicles in North America is expected to grow by around 19 % annually until 2028. For the organisational development at the American location, HPW has been able to gain Jan Seumenicht, an experienced automotive expert from the region, as Managing Director. In his career spanning more than 20 years, Jan Seumenicht has already established numerous company locations in Europe and overseas. Most recently, he was General Plant Manager for the lighting system specialist ZKW Mexico, part of the LG Corporation. Jan Seumenicht's other professional stations included Brose in Mexico and the automotive supplier Kostal. He is a Mexican and German citizen and lives in North America.

The new production site in the USA is expected to create around 80 new jobs in the production area. The staff at the Austrian sites will also be significantly increased in the course of the major order. In addition to the existing production sites in Linz and Leonding, HPW will open another Austrian branch in Garsten in the Steyr district next year.

Dr. Ewald Koppensteiner, CEO of HPW: "The latest major order is a milestone for HPW and enables us to grow internationally at an accelerated pace. This will also be the first time in HPW's corporate history that we will establish a location outside of Austria. The proximity to the renowned customer is of great advantage to us. We are also pleased that with our new managing director Jan Seumenicht we have been able to gain the ideal expert for the American market. With the international expansion, we are prepared for the future."

About HPW

HPW, high performance wires, is a technology company that develops and produces key components for the global energy transition. HPW's high-performance flat wires are mainly used in e-mobility and in the field of renewable energies. The products are characterised by high efficiency, resilience and durability, thus increasing the efficiency of electric motors, for example. HPW is an established partner for customers worldwide - including major global OEMs as well as Tier 1 suppliers - in over 50 countries. HPW has the capacity to meet the ever-increasing global demand for high-performance wires. Based on patented technology and continuous innovation, HPW is constantly achieving further performance advantages and opening up additional application possibilities for its products. The company is headquartered in Linz, Austria.

http://www.hpwires.com

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