Kongsberg Automotive awarded contract for head restraints valued at 38 MEUR

Kongsberg, 28 April 2009 Kongsberg Automotive has been awarded a long-term contract for head restraints to a new platform of cars from one of the premium car producers in Europe. The contract will start on a new vehicle program, but will later carry back to existing models. The seven-year supply agreement is estimated at 38 million euros, or approximately 337 million NOK. Start of production is set to 2010 at KA's production plant in Mullsjö, Sweden, and peak volume will be about 500.000 units per year. "This is a major achievement for us", says Hans Peter Havdal, President for Automotive Systems at Kongsberg Automotive. "The car producer is well-known for its comfort and safety standards, and this contract proves that our product line of head restraints meets the highest requirements. The focus on whip-lash injuries in car accidents is increasing, and our safety design minimizes the impact to the passengers head during a collision. By securing this order, we have strengthened our position and long term cooperation with the customer", he remarks. Kongsberg Automotive is headquartered in Kongsberg, Norway and has approx. 50 facilities in 20 countries on all continents. Kongsberg Automotive 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. FOR MORE INFORMATION, CONTACT: Hans Peter Havdal President, Automotive Systems Phone:+ 47 32 77 05 00 / Mobile:+47 920 65 690 Ronny Lie Director Communication Phone : +47 32 77 05 11. Mobile : +4791610798