KONGSBERG AUTOMOTIVE WINS EUR 18 MILLION (NOK 136 MILLION) CONTRACT
Kongsberg Automotive (KA) has been awarded a EUR 18 million (NOK 136
million) contract for the supply of electro-mechanical seat actuators
to one of the largest car manufacturers in the world. This program was
awarded to KA by a major Tier 1 seat supplier.
The actuators will be used on the OEMs full size SUV vehicle, which has
been among the best selling vehicles in North America for many years. KA
will start production in Q4 2013 out of its Matamoros, Mexico facility.
The contract will run for 5 years.
Electro-mechanical actuators are used in vehicles to automatically fold
and tumble the seats for easy luggage access or access to the 3rd seat
row. A one-touch release button is pushed which starts the actuator,
releasing the mechanisms in the seat. The seat then folds and tumbles
out of the way, making it easier to enter.
"KA created and owns this concept and it has been installed in several
vehicles across different OEMs. The design is offering value to the
customer by creative interior functionality, and we see it as a strong
growth possibility for KA going forward", says Scott Paquette, EVP for
Interior Systems in KA.
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.co