Kongsberg Automotive secures 2 contracts within its automotive segment worth EUR 7 million (NOK 53,6 million) in China
Kongsberg Automotive’s Interior Systems division is pleased to have been nominated to deliver the pneumatic seat support systems and seat heat systems to two different luxury SUVs in the Chinese market. The contracts are worth EUR 7 Million over 5 years.
The first nomination is for supply of seat heating systems for both the front and rear seats of a very successful European compact crossover SUV, which will be produced and sold in China from year 2014. This contract has total value of EUR 4 Million and assumes SOP in September 2014 with 5 years lifetime.
The second nomination is for supply of pneumatic seat support systems to another hugely successful European premium crossover that also will be manufactured and sold in China. The contract has a total value of EUR 3 Million and 5 years lifetime. Production will start in from October 2014.
“These are real milestone wins for us and a very important step to expand our presence on the attractive Chinese market. We’re especially pleased that the contracts are for compact SUVs that combine innovative technology and luxurious design, as these cars have shown to be very successful in the Chinese market”, says VP for Global Sales and Marketing, Hans Jørgen Mørland.
Both products will be manufactured in KA’s facility in Wuxi, China.
Hans Peter Havdal, CEO
Phone: +47 32770520. Mobile: +47 92065690
Investors / analysts:
Philippe Toth, Vice President M&A / Investor Relations
Phone: +4732770503. 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.
Kongsberg Automotive's business has a global presence. With revenues of close to EUR 1.0 billion and approximately 10.000 employees in 20 countries, Kongsberg Automotive is truly a global supplier. The company is headquartered in Kongsberg, Norwayand has 32 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