KEY CONTRACT WIN FOR DRIVELINE SYSTEMS IN CHINESE MARKET WORTH 25 MEUR

Kongsberg Automotive (KA) has received a contract for the gear shifter on a C-segment car in the Chinese market with a major global carmaker.  The product is a Shift by Wire type shifter with an advanced electronic package controlling the transmission. This is state of the art transmission technology.

“It is the KA global footprint that is the key to this business win. Our ability to be where our customers are - in combination with advanced and innovative product development – have positioned us to win these types of contracts”, says Claes Paulsson, Director Marketing and Sales in Asia for Driveline in Kongsberg Automotive.

The contract has a total value of 25 MEUR over 6 years. Start of production will be in Q3 2012 from KA’s facility in Wuxi, China.

“This is a result of our continuous efforts to grow in the Asian market, the most important automotive market in the future. I’m confident that this is just one of many steps to come on our growth journey in this region”, says Joachim Magnusson, Executive Vice President for Driveline in Kongsberg Automotive.

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.