KONGSBERG AUTOMOTIVE SECURES 40 MEUR (311 MNOK) CONTRACT FOR A NEW CRASH SAFE SUSPENSION SYSTEM FOR TRUCK CABINS

Kongsberg Automotive’s (KA) Actuation & Chassis business area has been awarded a contract for the supply of a new suspension system for truck cabins, to a global truck manufacturer.

The system consists of a stabilizer bar combined with two crash brackets. The system is based on new safety technology developed at the KA R&D centers in Sweden and Norway, in close cooperation with several leading research institutions in Norway. The system is critical to help reducing the impact on the truck cabin in the case where a truck crashes into the rear of another big vehicle. The system is an example of the new safety focused products within KA’s portfolio.

The total contract value is 40 MEUR (311 MNOK). The contract is for the European market and estimated life time of the contract is 5 years with start of production in 2013. Production will be in KA’s facilities in Mullsjø, Sweden and Rollag, Norway. Approximately 50 % of the contract value will come from a brand new product concept – the crash bracket system – which demonstrates an exciting growth opportunity.

“This is a very important contract for us as the legal requirements for safety and reliability features are increasing more and more. We are very satisfied with the close cooperation with the University and research institutes in Trondheim, Raufoss and Kongsberg, supported by The Research Council of Norway, and that this cooperation is materializing into important contracts”, says Håkon Amundsen, VP sales & marketing for commercial vehicles in KA.

Media:

Hans Jørgen Mørland, Director of Corporate Communications

Phone: 4732770511. Mobile: 4794863570

Investors / analysts:

Philippe Toth, Director, M & A / Investor Relations

Phone: 4732770503. Mobile: 4798214021

Kongsberg Automotive is headquartered in Kongsberg, Norway and has 48 facilities in 20 countries. Kongsberg Automotive, with more than 10.000 employees, provides system solutions to vehicle makers around the world. The product portfolio includes gearshift systems, cables for a wide variety of applications, fuel lines, tubing and hoses, couplings, clutch actuation, stabilizing rods, seat heaters, seat ventilation, lumbar supports, head restraints, arm rests, steering columns, pedals, electronics and displays. Find more information at www.kongsbergautomotive.com.