Kongsberg Automotive wins EUR 10 Million contract in India
Kongsberg Automotive (KA) is pleased to have been awarded a EUR 10 million (NOK 75,9 million) contract for supplying Manual Shift Cables in India.
The shift cable will be used in one of the most popular cars in the India market. Production supply will start in the third quarter of 2014 with a peak volume in 2015 and beyond, and the contract will run for 6 years. Production will take place at KA’s facility in Gurgaon, India.
"The key for winning this contract is KA's ability to integrate the global product technology with the full vertical integration of the local production capability", says Ian van Duijvenboode, Vice President Global Sales and Marketing Driveline. "These capabilities are much appreciated by our Indian customers and positions KA well for further growth in this very dynamic market"
KA established operations in India in 2007 and now has facilities in Pune and Guargon. The Asian market, together with the other BRIC countries, are considered as a big opportunity for continued growth. KA employs over 1,100 people in Asia.
“This contract confirms our ability to win new business in the BRIC regions against local competition. The BRIC market continue to grow in importance, and sales are increasing. It is therefore important to be present, and we believe that we are well positioned as a preferred partner for the commercial and light vehicle segments”, said CEO, Hans Peter Havdal, of Kongsberg Automotive.
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