EQS-News: HPW Metallwerk wins major electromobility orders and invests in a third production site

HPW Metallwerk wins major electromobility orders and invests in a third production site

• Doubling of production capacities of high performance wires for e-mobility in Garsten (near automotive center Steyr / Upper Austria)
• Investment volume is around 45 million euros
• Start of production planned for mid of 2024

Linz, 9 March 2023 – HPW Metallwerk GmbH (HPW) a manufacturer of high performance copper wires for industry, has received large-volume orders in the field of electromobility from well-known, global automobile manufacturers and is investing in another site to meet the continuing high demand for e-mobility. The two existing production plants in Linz and Leonding are being expanded by the Garsten site (near automotive center Steyr/Upper Austria). An 11,000 m2 site with existing buildings has been acquired for this purpose for a plant to produce high performance wires. In the coming months, HPW will convert the buildings and install modern state-of-the-art production equipment capable of producing PAI flat copper wires. This will enable a doubling of current capacities. The start of production is scheduled for mid-2024. This will create around 60 additional jobs at the new site in Upper Austria. The total investment volume amounts to around 45 million euros. Financing has already been secured.

HPW’s insulated high-performance copper wires can significantly increase the efficiency of electric motors in e-vehicles and considerably improve fast-charging capacities.

Dr Ewald Koppensteiner, CEO of HPW: "The additional plant in Garsten represents a milestone in HPW's growth story. We are thus taking into account the high and steadily increasing demand for high-performance wires for electromobility and making an important contribution to the global energy transition. Our new production site is also being built in one of the most important centers of the European automotive industry with a particular focus on electric drive technologies. This shortens supply chains and opens up further sales opportunities for us."

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 copper wires are mainly used in e-mobility and in the field of renewable energies. The products are characterized 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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