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Kongsberg Automotive Holding ASA (OSL:KOA) Kongsberg Power Products Systems AS, which is a subsidiary of Kongsberg Automotive Holding ASA, has declared it will close its Operations in Limerick, Pennsylvania by June 2009.
The operation in Limerick has 35 employees, and the workforce will be informed at meetings today. Operations today include Engineering, Purchasing, Customer Service and Sales, which serves Power Product Systems' markets. The closure of Operations will lead to a transfer of functional areas in Limerick to existing Kongsberg Automotive locations within the United States.
The Operations transfer decision is due to the continued restructuring efforts as well as the company's need for business alignment, realizing cost savings in order to improve overall competitiveness.
"Our long term competitiveness and profitability require that we reduce the complexity in all aspects of our business. This consolidation of Limerick into our other operations will enable us to optimize our resources. The gained efficiency will ultimately reduce our costs, speed our processes and ultimately benefit our customers." says President for Power Products Systems, Jim Ryan.
In addition to the Limerick transfer within the Power Products Division Kongsberg's newly formed Automotive Division will be consolidating all resources from Willis to the Detroit area offices. The move is being done to improve customer service and gain synergies by being collocated in one area.
### 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. ###
For further information, please contact: Jim Ryan, President, Power Products System Ph: +1 936 856 8773 / +1 936 522 6714. E-mail: jim.ryan@ka-group.com
