NORWAY: Kongsberg Automotive gets supply contract worth US$20.5m
Kongsberg Automotive's business area, Fluid Transfer, has been awarded a global contract worth an estimated EUR15m (US$20.5m) to supply safety critical brake vacuum assemblies to one of the world's largest car makers.
Production under the contract will commence in 2016 and will run over 5-years with manufacturing at facilities in Europe and China.
The Fluid Transfer business area at KA provides fluid handling systems such as pipe and hose assemblies for turbo chargers, brake- and fuel systems for a wide range of light duty, industrial and commercial vehicles worldwide.
"This award maintains our position as one of the specialist manufacturers of light-weight brake vacuum assemblies for the automotive sector and supports our strategy of a balanced growth between passenger cars and commercial vehicles. We are able to support our customer with innovative solutions and supply our customer base across three continents, which helps us to maintain our competitive advantage," said Jonathan Day, executive vice president of Fluid Transfer, at Kongsberg Automotive.