Kongsberg Automotive

M&A Activity • Nov 9, 2023

Kongsberg Automotive acquires Skriverform, a leading Norwegian manufacturer of tools for injection molding

Kongsberg Automotive acquires Skriverform, a leading Norwegian manufacturer of tools for injection molding

Zurich, November 9, 2023: Kongsberg Automotive AS (KA) has signed an agreement

yesterday evening to purchase 100 percent of the share capital of Skriverform

AS. Based in Norway, Skriverform designs and manufactures tools for injection

molding (IM).

The acquisition of Skriverform represents another step forward in our strategic

objectives. It is primarily motivated by our desire to achieve vertical

integration and gain reliability and better control over our supply chain. This

purchase positions us to streamline our operations and optimize efficiency,

ultimately benefiting both our bottom line and our customers. Founded in 1964,

Skriverform has been KA's trusted partner of choice for more than two decades.

This transaction is a part of KA's Shift Gear program to further explore niche

markets, grow sustainably, and offer innovative products and services to KA and

the existing customer base

Skriverform brings with it 12 highly skilled and competent employees dedicated

to IM tooling production and tooling maintenance capabilities from its facility

in Norway. The similarity of our corporate cultures will greatly facilitate and

enable a smooth integration process.

"Over the last two decades, KA and Skriverform formed a strong relationship and

have built a rich history of collaboration. We are excited about this

acquisition as we expect that it will enable KA to build further in-house

knowledge of injection molding tooling, production, maintenance, and other

capabilities. We look forward to welcoming highly trained employees from

Skriverform, who are experts on IM tooling," says Linda Nyquist-Evenrud,

President & CEO of KA.

"Over the years, KA has been our biggest and strongest customer-as we made

custom tools for the company with high level of technical details. This

acquisition fulfills KA's goal to vertically integrate, develop and expand the

business even further, "says Evy Sunde, Managing Director of Skriverform,

adding, "I am confident that Skriverform team is in good hands at KA and will

have the opportunity to grow and prosper."

The transaction is expected to close before the end of 2023.

Media and Communications contact:

Therese Sjöborg Skurdal - Director Corporate Communications

therese.skurdal@ka-group.com   (therese.skurdal@ka-group.com )

+47 982 14 059

Investor Relation contact:

Mads Langaard - Head of Investor Relations

mads.langaard@ka-group.com

+47 905 81 264

About Kongsberg Automotive ASA

Kongsberg Automotive provides cutting-edge technology to the global vehicle

industry. We drive the global transition to sustainable mobility by putting

engineering, sustainability, and innovation into practice. Our product portfolio

includes driver and motion control systems, fluid assemblies, and industrial

driver interface products. Find more information at: kongsbergautomotive.com