Kongsberg Automotive has completed the sale of a part of its Shawinigan operations in Canada
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
therese.skurdal@ka-group.com
+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
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