Kongsberg Automotive wins contract worth EUR 20 million estimated lifetime revenue

Kongsberg Automotive’s Fluid Transfer Systems (FTS) is pleased to announce the renewal of its relationship with one of the world’s leading suppliers of fuel transfer systems. 

FTS has won incremental business and secured an extension contract estimated annualized revenue of EUR 4 million, and estimated lifetime revenue worth EUR 20 million for the company’s world-leading high-temperature fuel line: Fluoro-comp®.

Fluoro-comp® uses innovative, state-of-the-art construction to offer unrivaled thermal insulation to ensure safety and security. 

“This is great news for our North American hose business and represents the confidence that our partners place in our product and plant performance,” says David Redfearn, Executive Vice President of Fluid Transfer Systems. 

The under-hood flexible fuel hose Fluoro-comp® will be delivered to various North American SUVs and Passenger Car vehicles from the FTS facility in Grand River, Ohio. Production is slated to start from September 2021 and will run for a minimum of four years. 

                    

Media contact
Therese Sjoborg Skurdal
therese.skurdal@ka-group.com   
+47 982 14 059 

Investors/analyst contact
Jakob Bronebakk
jakob.bronebakk@ka-group.com  
+47 906 39 637

                                                                                              
                                                                                                          
About Kongsberg Automotive ASA
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 approximately 11,000 employees in 19 countries, Kongsberg Automotive is truly a global supplier. The company has more than 27 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.

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This is great news for our North American hose business and represents the confidence that our partners place in our product and plant performance.
David Redfearn, Executive Vice President of Fluid Transfer Systems.