Kongsberg Automotive (KA) has signed a contract worth EUR 181 million (NOK 1,330 million) with a major European OEM for the supply of automatic gear shifters and shift by wire systems to 6 different car models on a new platform in the period between 2015 and 2024.
The shifters will be used in C, D and E Segment premium cars to be sold in Europe, North America and Asia. Production for global deliveries will begin out of KAs production facility in Mullsjö, Sweden and is likely to be expanded into Asia during the contract period.
This win follows the historically large contract KA won for the same vehicle platform earlier this summer (Ref: Press release dated: 2012-07-20), and demonstrates the strong relationship and trust between KA and this premium OEM.
“It’s very satisfying that we continue to be a preferred supplier to the leading European OEMs. This win comes as a result of the skill and hard work of our excellent cross functional team”, says EVP for Driveline Joachim Magnusson.
“Kongsberg Automotive holds a unique position offering our customer a global footprint and full gear shift system capability. This nomination is a testament of the value of these strengths to our customers”, says VP Sales & Markering for Driveline, Ian van Duijvenboode.
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 provides world class products to the global vehicle industry. Our products enhance the driving experience, making it safer, more comfortable and sustainable.
Kongsberg Automotive’s business has a global presence. With revenues of close to EUR 1.0 billion and approximately 11.000 employees in 20 countries, Kongsberg Automotive is truly a global supplier. The company is headquartered in Kongsberg, Norway and has 32 production facilities worldwide. The product portfolio includes seat comfort systems, driver and motion control systems, fluid assemblies, and industrial driver interface products developed for global vehicle manufacturers. Find more information at www.kongsbergautomotive.com
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http://www.cisionwire.com/kongsberg-automotive-holding-asa/r/major-contract-win-worth-eur-181-million--nok-1-330-million-,c9295137
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