Driveline contracts in Europe and Asia worth EUR 33 million (NOK 286 million)

Kongsberg Automotive’s Driveline business area has won two contracts worth an estimated total of EUR 33 million (NOK 286 million) over their durations.

The first contract, from a Joint Venture of a major North American OEM, is for automatic transmission shifters to be used in a B Segment SUV which will be sold in the Chinese market.

The unique design of this shifter will make it compatible with multiple transmissions and thereby provide platform flexibility to our customer.

The shifters will be manufactured at Kongsberg Automotive’s facility in Wuxi, China, with production supply scheduled to start in the first quarter of 2016. The contract has a total value of EUR 20 million over 7 years.

The second contract is from a major Global OEM for the supply of both manual shifter systems and automatic transmission cables to be used in a light commercial vehicle, which will be manufactured in Europe.

The value of the contract is EUR13 million over 4 years and production supply will start in the second quarter of 2015 from the company’s facility in Vrable, Slovakia. The products in this contract are derived from the current product scope to this customer, hence the short lead time to start of production.

“These nominations are further examples how Kongsberg Automotive can bring real value and flexibility to our customers through our global engineering and manufacturing set up” said Joachim Magnusson, executive Vice President for Kongsberg Automotive’s Driveline business.