KA awarded new Cable Gear Shift system for Commercial Truck customer in China worth EUR 8 mill (NOK 77 mill.)

Kongsberg Automotive’s Driver Control Systems business area has been awarded a contract for cable gearshift systems by a key Commercial truck customer in China.

The new business will include two types of shifters with cables and also a servo assisted system will be offered as an option. The contract positions our products as the preferred solution for trucks to be developed by this customer in the future,

The contract for the cable gear shift system, which was considered a significant performance and comfort improvement, has an estimated total value of EUR 8 million (NOK 77 million) over a 4 year period. Production for the domestic Chinese market is scheduled to start in the first quarter of 2017 from our SKADFM facility in Shanghai.

“Our cable gear shift systems made locally have great growth potential and will be key to strengthen our market position with these types of products in China”, said Rob Wolski, Managing Director for Asia in Kongsberg Automotive’s Driver Controls Systems business area.

“As part of our growth plan, China is important for our future success.   This win aligns with our announced initiative to focus on MT programs in this region, using conventional products such as the Cable Gear Shift systems to cater to domestic customers who are interested in the performance and quality we can offer”, said Scott Paquette, Executive Vice President, Driver Control Systems business area.

Media:

Fredrik Tangeraas, Director, Corporate Communications

Phone: +47 32 77 05 35; Mobile: +47 92464699

Investors / analysts:

Philippe Toth, Sr. Vice President, Business development & Investor Relations

Phone: +47 32 77 05 03; Mobile: +47 98214021

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. 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