KONGSBERG AUTOMOTIVE TO DELIVER HEAD RESTS AND SEAT HEAT SYSTEMS WORTH EUR 42.5 MILLION (NOK 318 MILLION) TO A LEADING US CAR MANUFACTURER
Kongsberg Automotive (KA) has been awarded two contracts with the same leading US car manufacturer for head rests and seat heat systems. The contracts are worth a total of EUR 42.5 million (NOK 318 million) over the 5 year model lifetime of two very popular vehicles in the North American market.
“This is not only two strong wins for us in the US market. It also supports our global approach as the relationship with this customer continues to develop in other regions outside North America, and the customer has a “one corporate design” strategy which aligns perfectly with our own global approach,” says Executive VP for Interior,Scott Paquette.
The first win is for one of the leading North American cross over utility vehicles (CUV) both from an entry level and a high end luxury level. The contract includes seat heat systems and second row head rests. The second win is for the leading seven passengers SUV in North America. This win is for second row folding head restraints.
“The new contracts demonstrate KA’s ability to leverage the unique interior systems portfolio to win more content on each vehicle”, says Director of Corporate Communications at Kongsberg Automotive, Hans Jørgen Mørland.
The start of production for both vehicles is scheduled for the 3rdquarter of 2014, and production is planned for the Reynosa, Mexico and Milan, Tennessee facilities.
Hans Jørgen Mørland, Director of Corporate Communications
Phone: 4732770511. Mobile: 4794863570
Investors / analysts:
Philippe Toth, Director, M & A / Investor Relations
Phone: 4732770503. Mobile: 4798214021
Kongsberg Automotive provides world class products to the global vehicle industry. Our products enhance the driving experience, making it safer, more comfortable and sustainable.
Kongsberg Automotive’s business has a global presence. With revenues of close to EUR 1.0 billion and approximately 11.000 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