Kongsberg Automotive (KA) announces changes to its organizational business structure in order to accelerate growth within the Commercial Vehicle (CV) segment and create a more balanced and profitable business.
Specifically, KA’s Actuation & Chassis (A&C) and Power Product Systems (PPS) business areas will be merged into one business area to be called Driver Control Systems.
The PPS and A&C business areas share similar markets and significant cross-selling and benefits can be realized from closer collaboration. The new business area will have revenues exceeding EUR 250 million, close to 1,400 employees, and serve the On- & Off-Highway, and Recreational Products segments.
With its global resources and untapped synergies, Driver Control Systems will form a strong growth platform within the Commercial Vehicles segment that should bring shareholder value.
The new company structure of four Business Areas (Driver Control Systems, Fluid Transfer Systems, Interior and Driveline) will take effect on January 1, 2013. Driver Control Systems, will be lead by Jim Ryan, who currently heads PPS.
The organizational change will be addressed in presentations at KA’s Capital Markets Day on November 6, which will be made available on KA’s corporate web site: www.kongsbergautomotive.com .
Media:
Fredrik Tangeraas, Director of Corporate Communications
Phone: +4732770505.Mobile: +47 92464699
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 inKongsberg,Norwayand 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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