Kongsberg Automotive’s Burton plant underconsideration for closure

At KA’s Capital Markets Day in November 2016, Kongsberg Automotive outlined its plan for improving its performance and substantially reducing its costs. This plan included closing down 6 plants, mainly within the Powertrain and Chassis products segment in Europe.

Further to this plan, it has now been proposed that the FTS Burton plant in the UK will be under consideration as one of the six production facilities that could be closed, and that operations at the plant could potentially cease from April 2018.

The Burton facility manufactures and supplies fuel and air suspension lines for customers JLR and Aston Martin. The plant has 52 operational employees, including agency workers. In 2016 it had revenues of EUR 2.6M.

While the Burton plant has been developed in the past 12 months for new production lines, the key strategic customers are driving the need to relocate this product range to their new facilities in Eastern Europe. The proposed plan for Burton is:

There are 52 employees working for KA FTS at the KA Burton facility that could be affected by the proposed plans. A period of consultation will begin, collectively and individually, with all employees in the weeks to come to ensure their concerns are adequately heard and addressed.

Investors/analysts:
Norbert Loers, Chief Financial Officer; mobile: +41 79 159 68 16

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 around EUR 1.0 billion and 10,000 employees in 19 countries, Kongsberg Automotive is truly a global supplier. The company is headquartered in Switzerland and has 28 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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