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Kongsberg Automotive Holding ASA Kongsberg Automotive Interior Systems has so far this year won multiple new contracts with a lifetime value at approximately 100 million EURO, of which 73 million has been booked in the 2nd quarter.
The contract terms vary from 3 to 6 years, and initial deliveries are expected to start in late 2008. The 2nd quarter business awards are to the current customer base and two new interiors customers, one in Europe and one in North America. Of the 20 newly awarded contracts captured in Q2, over half are supplying new product on Asian OEM vehicle platforms, which are representing the most stable production demands and increased growth in the global automotive market.
Production will be in Kongsberg Automotive facilities in USA, Mexico, Hungary, China and United Kingdom and will provide products for the Seat Heater, Cables & Actuation, Seat Support and Headrest market segments, giving well-balanced growth across the business.
"Customers continue to be impressed with the global full service and complete product portfolio offerings from Kongsberg Automotives Interior Systems division. For the customer to have the ability to select the exact product required, whether it's for a mainstream or niche market vehicle, creates less work for the customer to integrate and increases our value proposition. Customers who had previously moved to our competitors are now coming back to Kongsberg Automotive and we are seeing this clearly in the rate we are booking new programs. The ratio of incremental business wins is almost 2 to 1 over replacement business, showing that we are increasing market share whilst retaining our core business." commented Hans Peter Havdal, President - Interior Systems at Kongsberg Automotive.
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Kongsberg Automotive is headquartered in Kongsberg, Norway and has more than 50 facilities in 20 countries on all continents. Kongsberg Automotive, with revenues of about EUR1 billion and over 11,000 employees, provides system solutions to vehicle makers around the world. The product portfolio includes gearshift systems, cables for a wide variety of applications, fuel lines, tubing and hoses, couplings, clutch actuation, stabilizing rods, seat heaters, seat ventilation, lumbar supports, head restrains, arm rests, steering columns, pedals, electronics and displays. Find more information at www.kongsbergautomotive.com.
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FOR MORE INFORMATION, CONTACT: Hans Peter Havdal President, Interior Systems Phone:+4732770520. Mobile:+ 4792065690
Ronny Lie Director Communication Phone : +4732770511. Mobile : +4791610798
