Strategic contract worth EUR 100 million (NOK 961 million) in AMT segment

Kongsberg Automotive’s Driver Control business area has been awarded a strategic contract within the Automated Manual Transmission (AMT) segment for commercial vehicles. The estimated lifetime value of the contract is EUR 100 million (NOK 961 million) over 5 years.

Deliveries under the contract will start to ramp up from 2020 from Kongsberg Automotive`s manufacturing locations in Europe and the Americas. The business award reflects the significant investment and strong focus by Kongsberg Automotive on AMT systems. AMT systems are part of Kongsberg Automotive’s key growth platforms, and the contract is in line with its ambition to develop this area into a EUR 150 million annual sales business over the next 10 years.

Kongsberg Automotive has developed efficient actuation solutions for AMT transmissions that reduce fuel consumption, minimize maintenance cost and enhance driver comfort. The AMT system helps truck OEMs to meet the toughest emission standards on the market.

“We’re well positioned to support growing AMT demand globally, and this latest award shows that our strategic growth efforts in the segment are yielding results,” said Espen Moe, Vice President Powertrain & Chassis for KA’s Driver Control business area.

“We’re proud to be a supplier of this innovative solution to one of the worldwide leading truck manufacturers, said Håkon Amundsen, VP Sales & Marketing for KA’s Driver Control business area. “The agreement shows that our solid customer relationships, strong customer support team, and advanced technology will help to bolster our position in AMT segment”, said Håkon Amundsen.

Media:

Fredrik Tangeraas, Director, Corporate Communications

Phone: +47 32 77 05 35; Mobile: +47 92464699

Investors / analysts:

Philippe Toth, Sr. Vice President, Business development & Investor Relations

Phone: +47 32 77 05 03; Mobile: +47 98214021

About Kongsberg Automotive:

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 revenues of ca. EUR 1.0 billion and 10.000 employees in 19 countries, Kongsberg Automotive is truly a global supplier. The company is headquartered in Kongsberg, Norway and has 30 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