Kongsberg Automotive awarded new BRIC contracts worth EUR 54 million (NOK455 million)

Kongsberg Automotive’s (KA) Driver Control business area has been awarded several new contracts for deliveries to leading customers in the commercial vehicle industry in Brazil, Russia, India and China. The estimated total value of the contracts is EUR 54 million (NOK 455 million) over their 5 year durations.

The contracts are for deliveries of gear shifters for automated transmissions, throttle pedals, clutch actuation systems and cable gearshift systems to customers such as Dong Feng Motors, Foton, Jinan and JAC in China; KAMAZ in Russia; Asia Motor Works in India and Ford; MAN and Iveco in Brazil.

Kongsberg Automotive’s manufacturing footprint, product technology and local customer focus are valuable for local customers in the BRIC countries that seek to increase the durability and comfort level of their vehicles.

“KA has strong growth ambitions in the BRIC countries and is established and focused to support local manufacturers with our global product portfolio. The new contracts show the success of our strategy and will contribute to increasing our market share in the BRIC countries,” said Håkon Amundsen, VP Sales & Marketing, Driver Control Systems at Kongsberg Automotive.

Kongsberg Automotive makes about 9% of its total revenues in BRIC countries. One third of the Group’s new business wins came in BRIC countries last year, and supports Kongsberg Automotive’s ambition to double its revenues in these countries over a 5 year period.

Media:

Fredrik Tangeraas, Director, Corporate Communications

Phone: +47 32 77 05 35; Mobile: +4792464699

Investors / analysts:

Philippe Toth, Vice President, M&A / Investor Relations

Phone: +4732770503. Mobile: +4798214021

About Kongsberg Automotive:

Kongsberg Automotive provides world class products to the global vehicle industry. Our products enhance the driving experience, making it safer, more comfortable and sustainable. With revenues of close to EUR 1.0 billion and approximately 10.000 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