KONGSBERG AUTOMOTIVE WINS CONTRACTS WORTH EUR 68 MILLION (NOK 518 MILLION) FOR FLUID TRANSFER COMPONENTS ON COMMERCIAL VEHICLES
Kongsberg Automotive (KA) has been awarded business with two major
manufacturers of commercial vehicles for components within the fluid
transfer segment worth a total of EUR 68 million (NOK 518 million) .
The first customer is a leading truck manufacturer with production
locations in Europe and the US. KA will supply hose assemblies for turbo
lubrication and cooling worth EUR 26 million (NOK 198 million) for two
of the customer's global engine programs. The engine platforms are
developed for the new Euro VI and US13 emission standards. KA has
supported the development of these parts locally with the engineering
centre of the customer in Europe. Production will be in two locations,
Epila, Spain and Pickens, SC in the US. Expectations are that KA will
close additional business for this program within the next 6 months.
Start of production is scheduled for 2013 and the contract will run for
"Our ability to support the customer locally with dedicated engineering
and unique products coupled with our ability to produce parts in both
continents were key to this substantial award", says Director for sales
and marketing,David Redfearn.
The second win is a contract extension for the supply of fuel, oil, air
and turbo drain valued at EUR 42 million (NOK 320 million) to a major
American truck and engine builder that will now run until 2016.
"We take great confidence from this contract extension, it shows that
our customers value the unique product and engineering services that has
helped us secure market leadership within this exciting area"
saysJonathan Day, Executive VP for the Fluid Transfer business area.
The Fluid Transfer business represents about 1/5 of the revenues in
Kongsberg Automotive and is demonstrating exiting growth opportunities
within the global commercial vehicle segment.
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