The long-established company Presswerk Krefeld was a child of the first industrial revolution. Founded in 1898 under the name of Rheinisches Kleineisen- und Stanzwerk Jahn & Holzapfel, and initially manufacturing bolts and nuts for the railway industry, the company developed into the technological leader in cold forming, drop forging and aluminium forging. Today, PWK manufactures safety-relevant components for the international automobile industry. Together with the base in Krefeld, the company has a joint venture with automotive component supplier ZF in France, and partnerships in China and India. Manufacture of forgings for product components for brakes, shock absorbers, steering components and chassis is to be further expanded by the newly founded PWK IBEX GmbH in future. The companies Gebrüder Kunze GmbH and IBEX Automotive GmbH are to be subsumed into PWK IBEX GmbH. With the newly acquired production locations in Gelenau and Zittau, Saxony, PWK has an extended portfolio of plant and machinery and additional capacity for manufacturing. Together with PWK, PWK IBEX GmbH will in future belong to the newly formed PWK Automotive group of companies.