Kongsberg Automotive’s Driver Control Systems business area has been awarded a new contract for Electronic Power Steering (EPS) units in North America with an estimated total value of EUR 13 million (NOK 123 million) over a 4 year period.

The contract will incorporate KA’s Next Generation Electronic Power Steering unit, which supports multiple types of off-highway vehicles in both the industrial and recreational segments. Production for the North American market is scheduled to start in the third quarter of 2017 from our Grand Mere facility in Canada.

“This new contract is a significant step for the future of our EPS products in the Off-Highway sector. The performance and customer benefits from this system, has positioned Kongsberg Automotive as the preferred development partner for EPS,“ said Robert Pigg, Vice President for Kongsberg Automotive's Driver Interface activity.

“We see steering systems as an important growth opportunity in an attractive market niche, and this win is aligned with our announced initiative to focus on steering systems globally,” said Scott Paquette, Executive Vice President, Driver Control Systems business area.

Media:

Fredrik Tangeraas, Director, Corporate Communications

Phone: +47 32 77 05 35; Mobile: +47 92464699

Investors / analysts:

Philippe Toth, Sr. Vice President, Business development & Investor Relations

Phone: +47 32 77 05 03; Mobile: +47 98214021

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 19 countries, Kongsberg Automotive is truly a global supplier. The company is headquartered in Kongsberg, Norway and has 30 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

KA awarded Electronic Power Steering system contract worth EUR13 mill (NOK123 mill.)