KA awarded EUR 82 mill. (NOK793 mill.) contract in North America for gear shifter cables

Kongsberg Automotive’s (KA) Driveline business area has received nomination from a major North American OEM for the supply of automatic gear shifter cables, which will be used in full-size SUVs to be sold in North America.

The contract has an estimated total value of EUR 82 million over 6 years. Production under the contract will start in the second half of 2018 from KA’s facility in Nuevo Laredo Mexico. These cables are specially developed for a high load duty for gear shift systems, and are not part of KA’s Light Duty Cable business, which the company has announced it will divest.

“The contract from this major and highly valued North American car manufacturer confirms again our leading global position in automatic shift cables”, said Joachim Magnusson, Executive Vice President for Kongsberg Automotive’s Driveline business.

Media:

Fredrik Tangeraas, Director, Corporate Communications

Phone: +47 32 77 05 35; Mobile: +4792464699

Investors / analysts:

Philippe Toth, Sr. Vice President, Business Development & IR

Phone: +4732770503. Mobile: +4798214021

About Kongsberg Automotive:

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 10.000 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.com