INDIA: Kongsberg Automotive wins EUR13m shift cable contract
Kongsberg Automotive says it has secured a EUR10m (US$13m) contract to supply manual shift cables in India.
The supplier says the cables will be used for "one of the most popular cars in the India market," although declines to reveal which brand it is.
Supply will start in the third quarter of 2014 with a peak volume in 2015 and beyond and the contract will run for six years, with production taking place at KA's facility in Gurgaon, India.
"The key for winning this contract is KA's ability to integrate the global product technology with the full vertical integration of the local production capability," said Kongsberg marketing driveline vice president global sales, Ian van Duijvenboode.
"These capabilities are much appreciated by our Indian customers and positions KA well for further growth in this very dynamic market"
Kongsberg started in India in 2007 and now has facilities in Pune and Guargon. It employs more than 1,100 people in Asia.
"This contract confirms our ability to win new business in the BRIC regions against local competition," said Kongsberg Automotive CEO, Hans Peter Havdal.
"The BRIC market continue to grow in importance, and sales are increasing. It is therefore important to be present, and we believe we are well positioned as a preferred partner for the commercial and light vehicle segments."