Kongsberg Automotive merges Fluid Transfer Systems and Couplings business units
Zurich, September 2, 2022: Kongsberg Automotive ASA (KA) has merged Fluid Transfer Systems (FTS) and Couplings business units to create a new ‘Flow Control Systems’ business unit.
KA’s FTS business unit supplies PTFE hoses and hose assemblies to various industrial and automotive markets. KA’s Couplings business unit is a leader and supplier of compressed air couplings to the global commercial vehicle market.
This merger, along with the recent divestments, is in line with KA’s Shift Gear transformation program that aims to modernize the company’s product portfolio with the target to increase profits towards a double-digit margin by 2024/25.
The new Flow Control Systems (FCS) business unit, led by Linda Nyquist-Evenrud, allows KA to focus on its new mission to become a true global leader by putting engineering, sustainability, and innovation into practice to provide intelligent systems solutions. This adds significant value to our customers' applications and increases their competitiveness. With FCS, KA can better streamline work processes, optimize cost, and centralize product development, and focus more on cross-technologies, such as Thermal Management Systems and Air Suspension Systems for passenger cars.
The new FCS business unit will bring together technology know-how, and years of experience from both FTS and Couplings to boost systems innovation within KA as the company focuses on electrification, digitalization and sustainability. With this integration, FCS can actively support customer requirements and increase our market success rate, as well as help the company achieve a targeted revenue of approximately EUR 400 million by 2025.
“The creation of Flow Control Systems business unit will transform the company from being a components provider to becoming a systems provider,” says Joerg Buchheim, President & CEO of KA adding, “An integrated business unit will allow KA to create better synergies in knowledge, administration, marketing, and supply chain and makes us more prepared in reacting to market volatility and vulnerabilities.”
“The automotive market is transforming, and we see increased synergies—this merger will increase our competitiveness and ensure that we grow above market rates,” says Linda Nyquist-Evenrud, Executive Vice President FCS, adding, “I have had an incredible journey in KA since 2008 and this new assignment is another great challenge that I am looking forward to.”
The merger of FTS and Couplings is expected to complete in October 2022.
About Kongsberg Automotive ASA
Kongsberg Automotive provides cutting-edge technology to the global vehicle industry. We drive the global transition to sustainable mobility by putting engineering, sustainability, and innovation into practice. Our product portfolio includes driver and motion control systems, fluid assemblies, and industrial driver interface products. Find more information at: kongsbergautomotive.com
Therese Sjoborg Skurdal
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