KONGSBERG AUTOMOTIVE TO DELIVER GEAR SHIFT CABLES WORTH EUR 36.5 MILLION (NOK 277 MILLION) TO LEADING GLOBAL CAR MANUFACTURER

Kongsberg Automotive (KA) has been awarded a contract with a leading global car manufacturer for gear shift cables for an automatic transmission application. The contract is worth EUR 36.5 million (NOK 277 million) over 5 years for a full-size truck and SUV platform (multiple vehicles) in the North American market.

“The unique KA cable design will allow for easier vehicle installation at the customer’s assembly line and for the cable to be easily adjusted on the vehicle. We have proven to be a world-class manufacturer of premium shift cables, and this OEM recognizes that, as we position ourselves for future growth with this customer, says Executive VP for Driveline,Joachim Magnusson.

Total vehicle volume is expected to reach between 800,000 and 1 million units annually, and the program is scheduled to launch in April 2013. This contract demonstrates KA’s ability to win Driveline programs at improved margins based on unique functionality.

The shift cables will be produced in the facility inNuevo Laredo,Mexico.

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 11.000 employees in 20 countries, Kongsberg Automotive is truly a global supplier. The company is headquartered in Kongsberg, Norway and 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