Kongsberg Automotive

Regulatory Filings • Mar 1, 2017

KA seeks to close its manufacturing facility in Heiligenhaus, Germany

KongsbergAutomotive presented a substantial cost restructuring plan late last year which includes reducing the manufacturing footprint from 31 to 25 facilities, mainly within the Powertrain and Chassis products segment in Europe. As part of this plan, the company announced that the Basildon plant will be closed.

Further, it has now been decided that the Heiligenhaus plant will also be among the production facilities that will be closed, and that the Company has now initiated the negotiations with the Works Council to agree on the balance of interest and social plan for all affected employees.

The Heiligenhaus facility, which has 56 employees, manufactures and supplies vehicle control systems; it provides quality engineered Shifter Controls and Cables, Conduit and Core, for the world's top makers of commercial vehicles.

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:

KongsbergAutomotive 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 ca. EUR1.0 billion and 10.000 employees in 18 countries, KongsbergAutomotive is truly a global supplier. The company is headquartered in Switzerland 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 www.kongsbergautomotive.com