STRATEGIC BREAKTROUGH IN ASIA: KA SIGNS NEW MEUR 15 CONTRACT

Kongsberg Automotive has won a strategically important contract for production of couplings for compressed air for a global producer of commercial vehicles in Asia. The contract is worth MEUR 15 over 5 years with start of production in 2012. Kongsberg Automotive is a leader within this product area in Europe.

”The contract is for composite air couplings for the brake and suspension systems on the vehicles. This is one of the product areas we’re looking to globalize”, says Håkon Amundsen, Vice President for Sales and Marketing for commercial vehicles in Kongsberg Automotive.

”Our coupling system offers flexible solutions to the truck producers when they design and construct the compressed air system on the vehicles. This is getting increasingly more important as the available space on the vehicle is being reduced. Significantly reduced assembly time, reduced weight and modular components make this the most flexible system on the market. We’re pleased to get this confirmation that our system’s advantages compared to the competitors are important also in the Asian market. We think that this is only the beginning”, says Amundsen.

“This contract introduces our coupling products both in India and China, the two largest markets in Asia. We will localize our production in both these countries, and this will make us recognized as a local producer with global reach. We have great expectations to this product area going forward, both in Europe and in other parts of the world”, concludes Scott Paquette, EVP for the Fluid Transfer business area in Kongsberg Automotive.

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Kongsberg Automotive is headquartered in Kongsberg, Norway and has 50 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.

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FOR MORE INFORMATION, CONTACT:

Hans Peter Havdal, CEO

Phone: +4732770520. Mobile: + 4792065690

Philippe Toth, Director, Merger and Acquisition & Investor Relations

Phone : +4732770503. Mobile : +4798214021

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