KA secures strategic agreement with leading North American OEM
Kongsberg Automotive has secured a Strategic Supplier Agreement for seat comfort solutions to a leading North American vehicle manufacturer. The agreement is worth an estimated EUR 50 million (NOK 466 million) over 6 years, but this figure could increase as production volumes are not finally agreed.
Product supply includes a range of pneumatic seat comfort products from lumbar support systems up to complete massage and cushion length adjust systems. The agreement puts Kongsberg Automotive in the preferred supplier position for all the programs with this OEM where these types of seat comfort systems are introduced. Scheduled production under the agreement is expected to start from 2018, from Kongsberg Automotive’s facilities in Reynosa, Mexico; Pruszkow, Poland and Wuxi, China.
“This agreement builds on our recent successes across Europe and shows that our global development strategy in pneumatic systems works in all regions. This is our first agreement with this key strategic customer and is another fine example of how our teams work together across the globe to secure great global business. We will continue to build on this success as this OEM also controls sourcing of other KA comfort products,” said Hans Jørgen Mørland, VP of Sales and Marketing for Kongsberg Automotive's Interior business.
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