Kongsberg Automotive wins EUR10 mill. new contract in China
Kongsberg Automotive (KA) has been awarded a contract for Fluid Transfer Systems (FTS) in China with a global vehicle manufacturer, worth EUR10 million over its 5 year duration.
The product will be based upon our Nylon tube technology and is a developed tube assembly that performs a vital function within the braking system and will be produced in our Wuxi (China) facility.
Start of production is 2015 and is linked to one of the Top 10 most sold vehicle in China. FTS are already supplying to similar vehicle from manufacturing facilities in Europe and North America
Chinese car production is expected to grow by more than eight percent on average per year over the next four years, while world car sales will grow by just over four percent annually over the same period, according to market forecasts from IHS and LMC.
"The fact that we can support our customers with manufacturing solutions on three continents was a major factor in obtaining this award with this global car manufacturer" Commented David Redfearn Global Sales Director , Fluid Transfer Systems at Kongsberg Automotive.
Philippe Toth, Mergers and Acquisitions & Investor Relations M: 47 98214021 Philippe.email@example.com
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