This is a substantial award for an iconic European brand produced by one of the largest OEM customers in the world. These cars began the “green” movement decades ago and personify sustainable, energy-efficient city cars globally. We are proud to partner with industry leaders to bring Kongsberg Automotive’s shifter technology into the next generation of low emissions cars.
The sale of the LDC business unit allows us to consolidate our ambitions to become stronger and second to none in our future focus areas—on-highway and off-highway.
Thanks to both the teams for the smooth transaction. I am excited to see how ICS is further developed within Lear and wish everybody great success. With this sale, KA will now focus on strengthening our remaining product portfolio and pursuing mobility solutions for the future to become second to none in all we do.
Vi takker begge teamene for en smidig transaksjon. Det blir spennende å se hvordan ICS blir videreutviklet hos Lear og jeg ønsker alle parter stor suksess. Etter dette salget vil KA fokusere på å styrke vår gjenværende produktportefølje og jobbe videre med fremtidens mobility løsninger for å bli ledende i alt vi gjør.
The Couplings business unit has experienced a great success in the market and will continue to deliver growth above market rates. This expansion in our plant in Raufoss is just one of the important strategic decisions made to ensure that we are prepared for future growth and new markets.
We are excited to continue expanding our market share in this important segment. This is a big win for our KAMS joint venture and helps extend our solid foundation in the Chinese truck market.
Our portfolio decisions are driven by the clear strategy to build on leading market positions in the business areas in which Kongsberg Automotive participates. Going forward, we can fully concentrate our highly valuable resources on activities we excel at. Proceeds from the sale, besides strengthening the balance sheet further, provide more latitude for the business to focus on profitable growth with strong product focus plus attractive innovations.
The LDC business unit of Kongsberg Automotive is of high strategic importance for Suprajit. With three manufacturing units in Hungary, Mexico, and China, LDC enhances Suprajit’s geographical footprint and provides us with an enhanced customer list. LDC’s employees and engineering capabilities will further strengthen Suprajit Engineering Limited. Their cable business will solidify our stature as a major global player in mechanical cable systems. The electromechanical actuation division will be a new, exciting business for us to enter into.
We are convinced that this step allows Kongsberg Automotive to further focus our resources and investment on our high-potential, technology-driven and know-how-intensive business areas. We strongly believe that this transaction is in the best interest of Kongsberg Automotive and our shareholders and also offers a great opportunity for the LDC employees and the new owner Suprajit to achieve economies of scale.
This is a significant step towards the growth of Couplings in Asia, and we are proud to announce that our client will use the Raufoss ABC System for all vehicle platforms to meet their own needs, as well as the requirements of their customers in the future.
Our client’s ambition to grow within the battery-electric, and fuel cell driven vehicles are important to us as the Raufoss ABC System can and fully support the new green technology requirement within the automotive business.
This contract with one of the largest truck OEMs in Asia will provide a good growth platform for our KAMS joint venture in the heavy-duty truck & bus segment. We are aggressively following this rapid market transition into the AMT segment.
This is great news for our North American hose business and represents the confidence that our partners place in our product and plant performance.
I am honored to be a part of the Kongsberg Automotive, a company that has a longstanding history of creating and leading innovation for the automotive industry. I am looking forward to working with the team committed towards pioneering technology suited for the 21st century
Christian brings with him his deep automotive experience in driving innovation, in particular, within the highly attractive new fields of autonomous and electrical vehicle applications. He is an expert in harmonizing and standardizing of development processes and knows well how to increase efficiency and competitiveness with a clear customer focus,” says Joerg, adding, “His international experience in business development and management, and his structured and strong problem analysis and resolution skills will be an asset to Kongsberg Automotive as we move towards the future.
It´s great to have Jakob on board. Together with Jakob, I am looking forward to strengthening Kongsberg Automotive’s pro-interactive communication with our shareholders.
As we work on shaping Kongsberg Automotive’s future towards becoming an even stronger and more attractive competitor in the global automotive market, Frank is the right addition to the team. He brings broad international experience, great team spirit, and an extraordinary excitement for innovative technology.
I am excited to become a part of Kongsberg Automotive’s proud history and the company’s vision,” says Frank Heffter. “The pace of development here at Kongsberg Automotive is invigorating, and I look forward to collaborating with the international team and various stakeholder groups to contribute to the company’s exceptional values and future profitable growth.
“Joerg is a highly experienced automotive industry leader, and the best person to lead Kongsberg Automotive in its next phase of development. He has a proven track record in structuring, growing,
and realigning automotive supplier businesses, and brings a wealth of experience through his successful prior roles at multinational companies”, says Firas Abi-Nassif, Chairman of the Board. “Joerg commands a solid grasp of industry trends, strong strategic vision and in-depth operational know-how. I speak for the entire Board when I say that we are delighted to welcome him to Kongsberg Automotive.”
“I am humbled by the heritage of Kongsberg Automotive and very much look forward to my new role
at this great company with its highly committed people. I will strongly focus on further developing Kongsberg Automotive in its next phase as a truly global player”, adds Joerg Buchheim. “During the next 100 days, I will focus on discussions with our internal teams and our valued external partners. I am grateful to the team for going the extra mile for our customers, and to our trusted partners for allowing us to secure our supply chain.”