KONGSBERG AUTOMOTIVE WINS TWO NEW CONTRACTS WITHIN THE INTERIOR SEGMENT WORTH EUR 10.4 MILLION (NOK 79 MILLION)
Kongsberg Automotive (KA) has been awarded two contracts for lumbar support systems and seat actuation cables for an American and a Japanese OEM respectively. The contracts are worth EUR 10.4 million (NOK 79 million) over the 5 year model lifetime of two popular cars in the North American market.
“Both these customers are very important to us, as they not only have high selling models in the North American market, but also hold strong global positions and hence represent a global growth potential for us”, says Executive VP for Interior, Scott Paquette.
For both contracts KA will supply the systems thru a so called Tier 1 system supplier that builds the car interior for the OEMs. It hence demonstrates the ability of our team to work with both the Tier 1s as well as the OEMs.
The first win is for pneumatic lumbar support systems in a large and very popular American car.
The pneumatic lumbar support systems are increasing in popularity in the North American market due to low weight and good functionality in a small package. KA is a leading global player in this segment.
The second win is for seat actuation cables in an increasingly popular Japanese mid-size luxury crossover SUV.
The start of production for both vehicles is scheduled for the first quarter of 2013, and production is planned for the Reynosa and Matamoros (both Mexico) 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