Kongsberg Automotive has completed the sale of a part of its Shawinigan operations in Canada

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Zurich, October 3, 2022: Kongsberg Automotive ASA and its subsidiary Kongsberg Inc (henceforth referred to as KA) have completed the sale of a part of its Shawinigan operations (henceforth referred to as KA Shawinigan) in Canada to BRP (Bombardier Recreational Products Inc.) through a subsidiary. 

KA Shawinigan specializes in the production of a wide range of products for powersports applications such as, sensors, actuators, electronic power steering, wire harnesses, dashboard assemblies, etc. KA and BRP entered into a definitive agreement for this sale on August 9, 2022, and the transaction closed on October 3, 2022.

“With this transaction, KA will actively scale up our presence in agriculture, construction sectors, as well as the areas we excel at,” says Joerg Buchheim, President & CEO of KA. “Additionally, the net proceeds from this transaction allows us to continue to prioritize innovation, explore new markets and invest in growth.”


About Kongsberg Automotive ASA
Kongsberg Automotive provides cutting-edge technology to the global vehicle industry. We drive the global transition to sustainable mobility by putting engineering, sustainability, and innovation into practice. Our product portfolio includes driver and motion control systems, fluid assemblies, and industrial driver interface products. Find more information at: kongsbergautomotive.com


KA media contact:
Therese Sjoborg Skurdal
+47 982 14 059

The information in this announcement is considered inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant section 5-12 of the Norwegian Securities Trading Act. This announcement was published by Kongsberg Automotive's Corporate Communications contact as set out above.

Forward-looking statements
This announcement contains forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "strategy", "intends", "estimate", "will", "may", "should" and similar expressions. The forward-looking statements in this announcement are based upon various assumptions, which in turn may be based on further assumptions. Although Kongsberg Automotive believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors that are difficult or impossible to predict and are beyond its control. Various factors could cause Kongsberg Automotive's actual results to differ materially from those projected in a forward-looking statement. No assurances can be given that the assumptions underlying the forward-looking statements prove to have been correct. Kongsberg Automotive disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.


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