CONTRACT WIN FOR DRIVELINE SYSTEMS IN CHINESE MARKET WORTH 16 MEUR (124 MNOK)

Kongsberg Automotive (KA) has won a contract with a Chinese domestic OEM for the supply of an automatic gear shifter system. The shifters will be used in a range of very successful cars in the Chinese market.

The contract has a total value of 16 MEUR over 6 years, and production will start in September 2011 from KA’s facility in Wuxi, China.

“We’re very satisfied with the continuing growth we’re seeing in our Chinese business, and with once again being chosen as a partner for one of the largest OEMs in China. This is and will continue to be our single most important growth market”, says Joachim Magnusson, Executive Vice President for KA Driveline.

Media:

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 is headquartered in Kongsberg, Norway and has 48 facilities in 20 countries. Kongsberg Automotive, with more than 10.000 employees, provides system solutions to vehicle makers around the world. The product portfolio includes gearshift systems, cables for a wide variety of applications, fuel lines, tubing and hoses, couplings, clutch actuation, stabilizing rods, seat heaters, seat ventilation, lumbar supports, head restraints, arm rests, steering columns, pedals, electronics and displays. Find more information at www.kongsbergautomotive.com.