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Kongsberg, Norway, Apr 23, 2008 - (ABN Newswire) - Kongsberg, Norway, April 23, 2008 - Kongsberg Power Products Systems AS, which is a subsidiary of Kongsberg Automotive Holding ASA, has declared it is considering proposals regarding closing the factory in Märsta, Sweden and intends commencing negotiations with the Unions. The factory in Marsta has 54 employees, and the workforce will be informed at meetings today. The facility today produces heavy duty cables, pedals, hand controls, hydraulic valves and electrical components to the Commercial Vehicle and off-highway vehicle market. The potential closure of the factory may lead to a transfer of production in Märsta to existing Kongsberg Automotive locations within Europe. Kongsberg Power Products Systems AB will continue to service its customers through its operations in Ljungsarp, Sweden. The potential closure is due to the company's need for realizing cost savings in order to improve overall competitiveness.. "To Kongsberg Automotive, it is decisive that we find ways to optimize our production in order to stay competitive in an ever increasingly competitive global market. The potential transfer of business from Märsta will better align us to market needs and restore profitability for the Division to an acceptable level", says President for Power Products Systems, Jim Ryan. ### Kongsberg Automotive is headquartered in Kongsberg, Norway and has more than 50 facilities in 20 countries on all continents. Kongsberg Automotive, with revenues of about EUR1 billion and over 11,000 employees, provides system solutions to vehicle makers around the world. The product portfolio includes gearshift systems, cables for a wide variety of applications, fuel lines, tubing and hoses, couplings, clutch actuation, stabilizing rods, seat heaters, seat ventilation, lumbar supports, head restrains, arm rests, steering columns, pedals, electronics and displays. Find more information at www.kongsbergautomotive.com. FOR MORE INFORMATION, CONTACT: Jim Ryan President, Power Products System Phone: +1 936 856 8773. Mobile: +1 936 522 6714 Ronny Lie Director Communication Phone : +4732770511. Mobile : +4791610798
