INTERIOR SYSTEMS CONTRACT WITH KOREAN CAR MANUFACTURER WORTH 15 MEUR

Kongsberg Automotive (KA) has received a new contract for seat heat systems on a key Korean OEM car platform in North America with an expected lifetime turnover value of over MEUR 15.

“This is a key win with one of the fastest growing Korean OEMs globally. There continues to be strong competition to win contracts with the fast growing Korean car manufacturers. Kongsberg Automotive has once again proven market leadership through this award”, says Raymond Bomya, Executive Vice President for Interior in Kongsberg Automotive.

The contract has a total value of 15 MEUR over 7 years. Start of production will be in Q2 of 2012.

“We remain focused on providing advanced, world class products and service to our customers. We have a goal to further strengthen our customer base by growing with our Korean customers, this award is a big step towards accomplishing that goal”, Bomya concludes.

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 restrains, arm rests, steering columns, pedals, electronics and displays. Find more information at www.kongsbergautomotive.com.