KONGSBERG AUTOMOTIVE SECURES HISTORIC CONTRACT WORTH EUR 287 MILLION (NOK 2,150 MILLION)
7/20/2012 12:45 AM EST
Kongsberg Automotive (KA) has signed a record size contract worth EUR
287 million (NOK 2,150 million) with a European OEM for the supply of
seat comfort products to a total of six different car models on a new
platform in the period between 2015 and 2024.
The seat comfort products include fixed and adjustable pneumatic lumbar
support systems, seat heating and seat cooling ventilation. KA will
start production in H2 2014 out of its Pruszkow, Poland facility. The
largest volumes will be produced and delivered between 2016 and 2023.
"These seating systems will be some of the most advanced in the market
and selecting KA to develop and implement the comfort features, speaks
highly for KA's commitment to exceed customers comfort expectations. Our
engineers are continuously seeking better ways to add comfort and
provide the ultimate experience for driver and passengers. I'm very
proud of our team effort to secure this business", says Scott Paquette,
EVP for Interior Systems in KA.
"This is one of the largest contracts KA's Interior division has ever
secured, and it shows that we're one of the leading players in this
market. To have the chance to work with the greatest car makers in the
world is highly motivating, and I'm confident that this deal will
trigger more growth opportunities going forward", says CEO of Kongsberg
Automotive Hans Peter Havdal.
Media:
Hans Peter Havdal, CEO
Phone: 47 920 65 690
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