Today, Kongsberg Automotive completed the sale of its North American
Headrest/Armrest business to Futuris Automotive for an undisclosed amount.
Kongsberg Automotive and Futuris Group (Futuris) entered into a sales and
purchase agreement on January 6, 2017. With the closing of the deal having taken
place today, all contracts, employees, and other assets have been transferred to
Futuris.
As previously communicated at Kongsberg Automotive's Capital Market Day in
November, 2016, Kongsberg Automotive had decided to divest its Headrest and
Armrest business in order to focus its Interior Segment on the Seat Climate and
Support systems and Light Duty Cable products.
About Futuris Group:
Futuris is the leading automotive Minority Certified Tier 1 global seating and
interiors supplier with complete design to production capabilities. Futuris is
located across 5 countries, the United States, Mexico, China, Thailand and
Australia, operating over 25 facilities and employing over 5,600 associates
worldwide.
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 around EUR 1 billion and 10.000
employees in 18 countries, Kongsberg Automotive 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
Investors / analysts:
Philippe Toth, EVP Vice President, Business Development & IR
Tel: +47 98214021
Media:
Fredrik Tangeraas, Director, Corporate Communications
Tel: +47 92464699