CLOSURE OF KONGSBERG AUTOMOTIVE’S FACTORY IN HAGERSTOWN, MARYLAND

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Power Products Systems, a business area within Kongsberg Automotive Holding ASA, has declared it will close the factory in Hagerstown, Maryland on October 31, 2010. 

The factory in Hagerstown has 64 employees and produces a variety of operator control systems for industrial vehicles. The closure of the factory will lead to a transfer of production in Hagerstown to existing Kongsberg Automotive locations within the United States. 

The closure is due to Kongsberg Automotive’s need for realizing cost savings in order to improve overall competitiveness. 

”To Kongsberg Automotive, it is decisive that we find ways to optimize our production in order to stay competitive in an ever increasingly global market.  The transfer of business from Hagerstown will better align us to market needs, simplify our business and improve profitability for the Division per our strategic plan”, says President for Power Products Systems, Jim Ryan. 

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Contact details:
Hans Peter Havdal, CEO
Phone: +4732770520. Mobile: + 4792065690 

Ronny Lie
Director Corporate Communications & Investor Relations
Phone : +4732770511. Mobile : +4791610798