Kongsberg Automotive wins contracts in Brazil and India Worth 33MEUR (NOK 272 million)
Wednesday, 20 November 2013
Kongsberg Automotive (KA) announced that it has been awarded a contract
for the supply of a complete manual gearshift system from a major
European OEM. The shifter system will be used in B Segment cars which
will be sold in India and South America.
The contract has a total value of 33 million euros (NOK 272 million)
over 4 years. Production will start at KA facilities in Jundiai
(Brazil) and Gurgaon (India) in Q3 2015, and peak production volumes
will be reached in 2018.
KA’s presence in BRIC countries, such as in the Brazilian market,
represents an important growth opportunity for the company. Indeed, LMC
Automotive expected South American passenger car sales to grow by 7%
this year and a further 5.2% in 2014.
“It is very satisfying that we continue to win business that can
utilize our global capabilities”, said Joachim Magnusson, Executive
Vice President, Driveline.
“Kongsberg Automotive has a unique position to be able to offer a
global footprint and full system capability, which support our growth
plans in the BRIC countries”, said Ian van Duijvenboode, Sales &
Marketing Vice President for KA’s Driveline business.
Based on a press release / Scancomark.com Team
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