KA wins EUR 11.4 million (NOK 93m) North American contract

Kongsberg Automotive has secured a 5-year agreement with a major North American seat and interior manufacturer for the supply of arm rests to two vehicles in the North American market.

The contract has an estimated life time value of EUR 11.4 million. Production of the arm rests will begin in the third quarter of 2015 from the company’s facility in Milan, Tennessee.

The two vehicles that will be supplied under the contract include one popular compact car and the next generation of a well received plug-in hybrid electric vehicle. KA will supply the rear centre arm rest in both vehicles.

“This is a product segment where KA offers customers maximum functionality with many different features from basic to luxury. Our highly specialized US plant covers the whole range of processes making us competitive and flexible”, said Hans Jørgen Mørland VP Sales & Maketing, for Interior at Kongsberg Automotive.

Media:

Fredrik Tangeraas, Director, Corporate Communications

Phone: +47 32 77 05 35; Mobile: +4792464699

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Philippe Toth, Vice President, M&A / Investor Relations

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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, 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