Key European Driveline contract worth EUR 119 million (NOK993 million)
Kongsberg Automotive (KA) has received a nomination from a major European OEM for the supply of gear shifters for both automatic transmissions featuring shift by wire and manual transmissions.
The shifters will be used in D Segment cars which will be sold in Europe.
The contract has an estimated total value of EUR 119 million over 7 years. Production supply will start in the fourth quarter of 2015.
“It’s very satisfying that our capabilities in both automatic and manual transmissions are recognized by our customers”, said EVP for Driveline Joachim Magnusson.
“This nomination is a testament to the value Kongsberg Automotive can bring to our customers. Shift-by-wire is a key technology trend and we continue to provide the market with innovative solutions to support our customers”, said VP for Sales & Marketing Driveline Ian van Duijvenboode.
Fredrik Tangeraas, Director of Corporate Communications
Phone: +4732770511. Mobile: + 4794863570
Investors / analysts:
Philippe Toth, VP, M & A / Investor Relations
Phone: +4732770503. Mobile: +4798214021
Kongsberg Automotive´s business has a global presence. With revenues of close to EUR 1.0 billion and approximately 11.000 employees in 20 countries, Kongsberg Automotive is truly a global supplier. The company is headquarted in Kongsberg, Norway and has 32 production facilities world wide. The product portfolio includes seat comfort system, driver and motion control systems, fluid assemblies, and industrial driver interface products developed for global vehicle manufacturers. Find more information at www.kongsbergautomotive.com