Kongsberg Automotive (KA) has received nomination from a major European OEM for supply of the complete manual gear shifter system. The shifter system will be used in C Segment cars which will be sold in Europe under two different brands.

The contract has an estimated total value of EUR 17 million over 7 years. Production will start in November 2016 with peak volume 2018, from KA’s facilities in Cluses. France.

“It’s very satisfying that we continue to win contracts with this major European OEM. This nomination shows that we continue to deliver products that match our customers’ expectations”, said Joachim Magnusson, Executive Vice President at Kongsberg Automotive’s Driveline business area.

“This nomination comes from a close co-operation and demonstrates how we bring innovation and system competence to our customers”, said Ian van Duijvenboode, VP Sales & Marketing for Kongsberg Automotive’s Driveline business.

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

Driveline contract in Europe worth EUR 17 million (NOK 143 million)