Kongsberg Automotive

KA initiates consultations relating to the closure of the manufacturing facility in Basildon, UK

On Kongsberg Automotive's Capital Markets Day in November, the company outlined

its plan, among other initiatives, to improve its performance and substantially

reduce costs. This plan included a reduction in the number of manufacturing

facilities, from 31 to 25, mainly within the Powertrain and Chassis products

segment in Europe.

Further to this plan, KA today initiated consultations relating to closing the

manufacturing facility in Basildon, UK. As a result of this, a mandatory period

of consultation will begin collectively and individually with all of the

affected Basildon employees.

The Basildon facility manufactures vehicle control systems, engineered pedals,

electronic displays, cables and hand controls for the world's top makers of

commercial, industrial, agricultural and construction vehicles.

52 employees at the Basildon manufacturing facility will be affected by the

proposed closure.

Investors / analysts:

Philippe Toth, EVP Vice President, Business Development & IR

Tel: +47 98214021

Media:

Fredrik Tangeraas, Director, Corporate Communications

Tel: +47 92464699

About Kongsberg Automotive:

Kongsberg Automotive provides world class products to the global vehicle

industry. Our products enhance the driving experience, making it safer, more

comfortable and sustainable. With revenues of EUR 1.0 billion and 10.000

employees in 18 countries, Kongsberg Automotive is truly a global supplier. The

company is headquartered in Norway and has 31 production facilities worldwide.

The product portfolio includes seat comfort systems, driver and motion control

systems, fluid assemblies, and industrial driver interface products developed

for global vehicle manufacturers. Find more information at

AI Terminal