Strategic contracts worth EUR 110 million (NOK 990 mill.) for Automated Manual Transmissions (AMT)

Kongsberg Automotive’s Driver Control Systems business area has been awarded significant contracts within Automated Manual Transmission (AMT) systems for Commercial Vehicles. The value of these contracts is estimated to be EUR 110 million (NOK 990 million) over a 5 year duration.

Deliveries under the contracts will start to ramp up in 2016 and 2017 within the Kongsberg Automotive manufacturing locations in South and North America. The business awards reflect the significant investments and strong focus by Kongsberg Automotive on AMT products.

Kongsberg Automotive has developed efficient actuation solutions for AMT transmissions which drive reduction in fuel consumption, minimize maintenance cost and enhance driver comfort. The AMT system contributes to the truck OEM’s meeting the toughest emission standards on the market.

“It’s of vital importance that we play a significant role in the growing AMT segment ahead, and these business awards show we have the right competence and product solutions required. We are well positioned to support the market transition from Manual Transmissions to Automated Manual Transmission” said Hans Peter Havdal, CEO of Kongsberg Automotive.

“Heavy Duty trucks are increasingly adapting to AMT technology, and it is imperative to have innovative technology, a global team and strong customer relations to win business within this area”, said Håkon Amundsen, VP Sales & Marketing of Driver Control Systems. “Our target is to further strengthen these competitive advantages and increase market share within AMT in all major regions going forward. These wins show we are very well positioned within DCS to meet current and future market trends”, concluded Håkon Amundsen.

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