Kongsberg Automotive wins contract worth EUR 6.35 Million in North America
KA Interior Systems announces significant new business wins within its Light Duty Cable (LDC) business unit
The North American LDC team has recently received confirmation of a significant package of new cable business for a key Tier 1 seating customer.
The value of this new business is €6.35m over the product life and will commence in 2015. This new package of cables is additional to the current business on this vehicle platform which was retained by Kongsberg Automotive at the end of 2012 and brings the total product life value up to €12.5m.
The package comprises 22 part numbers and the cables are fitted to seats in a premium Japanese SUV produced in North America. All of the cables will be produced in Kongsberg Automotives Matamoros, Mexican facility.
“This new business continues the successful growth in Light Duty Cables we are seeing since creating the separate Business Unit within the Interior Systems Business Area” says Adrian Baker VP of LDC Business Unit.
The North American market continues to grow in importance for KA and first half 2013 36% sales is within this region. The growth is driven by increased market share and a positive market development where US car production has increased 3% in the first half year over first half year 2012.
Hans Peter Havdal, CEO
Phone: +47 32770520. Mobile: +47 92065690
Investors / analysts:
Philippe Toth, Director, 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