Kongsberg - Three major producers of automobile interior seat and door systems have chosen Kongsberg Automotive to supply products into future vehicles in the North American market.

The total order value is estimated to be 17M Euro, with potential options for an additional 4,9M Euro at a later date. The contract terms vary from 3 to 6 years, and initial deliveries are expected to start in late 2008.

Production will be in Kongsberg Automotive facilities in Mexico and will provide products for the Cables & Actuation, Seat Support and Headrest market segments, giving a well-balanced growth across the business.

"The market significance of the newly combined product portfolio has been realized very quickly by our customer base. Within a few short months, we have started the 'cross-selling' process to our customers and have been rewarded with 3 pieces of incremental business. The business not only represents growth in the difficult North American economy, but reinforces the commitment from our customers in the products, value and relationship we offer" commented Hans Peter Havdal, President for Interior Systems at Kongsberg Automotive.

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.

Courtesy: Kongsberg Automotive, Norway

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Posted by Naresh Koshti on 3 May, 2008 4:02:15 PM IST #