Kongsberg Automotive wins EUR 25 Million contract in China & UK
Interior Systems announces EUR 25 million order for their new Seat Actuator product
The Interior Business Area has recently won a significant contract for a new generation of seat actuators within its Light Duty Cable business unit. This electromechanical actuator allows a second or third row seat to fold or fold and tumble, at the push of a button. This product is mainly applied to SUVs to quickly expand the luggage area.
The value of this new business is €25 million over the product life and will commence at the end of 2014. The Actuator will be fitted onto a new model of a premium European SUV which will be manufactured in the UK and China. The nomination for the business has come directly from the vehicle manufacturer but it will be sold through one of our Tier 1 seating customers. KA will build the Actuator at our Light Duty Cable facility in Siofok, Hungary.
This is an important attainment for this new strategic product, which was developed in North America through the Interior Systems Innovation Group.Teams from North America and the UK have worked closely with our facility in Siofok, to make this a truly global achievement.
“This exciting new product is generating a breakthrough in the market and positions Interior Systems as one of the leading experts for electromechanical seat actuation. Potential for the Actuator within the SUV segment is very exciting and we are already talking to several other customers about opportunities”says Scott Paquette, EVP BA Interior Systems.
Hans Peter Havdal, CEO
Phone: +47 32770520. Mobile: +47 92065690
Investors / analysts:
Philippe Toth, Vice President M&A / Investor Relations
Phone: +4732770503.Mobile: +4798214021
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