PROGRESS-WERK OBERKIRCH AG (FRA:PWO) EQS-News: PWO Group advances its sustainability strategy with the purchase of “green steel” starting in 2026
Transparency directive : regulatory news
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EQS-News: PWO AG
/ Key word(s): Sustainability/ESG
PWO Group advances its sustainability strategy with the purchase of “green steel” starting in 2026
Carlo Lazzarini (CEO): "We have already achieved extensive reductions in greenhouse gas emissions in our production and energy procurement processes. Now we are also accelerating the decarbonization of our value chain. This step reiterates our commitment to our ambitious climate protection goals." Oberkirch, December 13, 2023 – The PWO Group continues to implement its sustainability strategy at a rapid pace. In order to reduce greenhouse gas (GHG) emissions when purchasing steel, the most important raw material for our business, we signed a partnership agreement with Salzgitter Mannesmann Stahlservice GmbH — a subsidiary of Salzgitter AG — to purchase "green steel" from Salzgitter starting in 2026. This will enable us to offer our customers an environmentally friendly alternative to conventionally produced steel in the future. With the "SALCOS® - Salzgitter Low CO2 Steelmaking" transformation program, the Salzgitter Group will gradually convert its steel production to hydrogen-based processes. The aim is to achieve virtually CO2-free production starting in 2033. The classic blast furnace route is to be replaced by a production route using direct reduction and electric arc furnaces. Jochen Lischer, CFO, emphasizes: "Our agreement represents a milestone in the decarbonization of our value chain. By 2030, we want to reduce our absolute GHG emissions in Scope 3 by 28.0 percent versus the base year of 2019. The purchase of "green steel" from Salzgitter Mannesmann Stahlservice GmbH, with a CO2 footprint in production that is up to 95 percent lower, will help us to realize this goal." Michael van der Vlist, Managing Director of Salzgitter Mannesmann Stahlservice GmbH, adds: "We are delighted to be expanding our cooperation with the PWO Group in such a forward-thinking manner. The successful transformation to a climate-neutral economy depends on a network of strong partners who ensure that the market for CO2-reduced steel products continues to grow."
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PWO Group: Pushing boundaries in lightweight metal solutions
1,200 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. As a value-based employer with informal structures at a global level, we thus 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 by the slogan PEOPLE. PLANET. PROGRESS.
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13.12.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| 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: | 1795385 |
| End of News | EQS News Service |
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1795385 13.12.2023 CET/CEST