3 NEW KEY CONTRACTS WON BY DRIVELINE SYSTEMS IN CHINA WORTH 116 MEUR
Kongsberg Automotive (KA) has secured 3 new contracts with a combined value of 116 M€ over 5 years.
One contract is with a major European OEM for supply of Automatic gear shifter systems for the China market to be used in C segment cars. The contract has a total value of 14 MEUR over 5 years. Production supply will start in the first half of 2014 out of our Wuxi facility in China.
Two contracts come from a major Chinese OEM for supply of both Automatic and Manual gear shifter systems. The shifters will be used in C and D Segment cars which will be sold in China. The contracts are god examples of Chinese OEMs searching for new technology from European suppliers.
These contracts have a total value of 102 MEUR over 5 years with possible extension.
Production supply will start in the second half 2014 out of our Wuxi facility.
“It’s very satisfying that we win contracts in Asia with the local OEMs. China is the single biggest growth market and we want to continue our growth in Asia”, says EVP for Driveline Joachim Magnusson.
“Kongsberg Automotive has a unique position to be able to offer our customer both a global footprint and complete gear shifter system capability. These business awards are testament to the confidence of our key customers in our products and capabilities in China.”, says Sales and Marketing VP for Driveline Ian van Duijvenboode.
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