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Shawinigan) in Canada to BRP for a total enterprise value of CAD 136 million
(EUR 104 million).
KA provides cutting-edge technology and engineering to the global vehicle
industry. KA Shawinigan specializes in the production of a wide range of
products for powersports applications, such as sensors, actuators, electronic
power steering, wire harnesses, dashboard assemblies, etc.
In 2021, as a part of its Shift Gear transformation program, initiated by
President & CEO Joerg Buchheim, KA started to modernize its product portfolio
with a target to grow and increase profits towards double-digit margins by
2024/25. Additionally, KA continues to improve operationally and evaluate and
develop strategies to deal with the global semi-conductor supply situation and
reduce vulnerabilities.
The divestment of the Interior business segment in 2021, and the sale of a part
of the Shawinigan operation is a part of KA’s ongoing strategy to execute the
transformation roadmap and react flexibly to market and customer trends. With
this, KA will continue to actively scale up its presence in on-highway,
agriculture, and construction sectors within the Off-Highway business unit, as
well as the segments we excel at including Couplings, Fluid Transfer Systems,
and Powertrain & Chassis. This transaction will provide additional net proceeds,
which will allow KA to explore new markets, drive innovation, and invest in
growth.
Joerg Buchheim, KA’s President & CEO says, “BRP and KA have a strong
relationship and a long history of collaboration. KA Shawinigan is almost solely
dedicated to BRP. Therefore, the products KA Shawinigan supplies are highly
customized. With this sale, BRP will fulfill its strong wish to vertically
integrate KA’s product portfolio. We look forward to continuing our relationship
with BRP on future business opportunities out of our other US-based Off Highway
business unit location.”
“Over the years, we have built a strong relationship based on trust and shared
values with KA. We are very enthusiastic about this acquisition as we expect
that it will enable us to gain further expertise in mechatronics. We look
forward to welcoming highly trained and skilled employees from Shawinigan who
are already specialized in developing and manufacturing key components for many
of our product lines,” says José Boisjoli, President and Chief Executive Officer
of BRP.
With this sale, approximately 300 employees will be integrated into BRP. KA will
establish Shawinigan Tech Center in Canada, which will serve as a center of
competence in electronics and software.
The anticipated sale, subject to customary closing conditions, is expected to be
completed by the end of Q3 2022.
KA invites you to a media and investors presentation on August 9, 2022 at 10:45
(CET) 04:45 (EST) to be followed by a Q&A session. To join the conference call
use this link: https://channel.royalcast.com/landingpage/hegnarmedia/20220809_2/
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 (http://www.kongsbergautomotive.com)
KA media contact:
Therese Sjoborg Skurdal
therese.skurdal@ka-group.com
+47 982 14 059
About BRP
We are a global leader in the world of powersports products, propulsion systems
and boats built on 80 years of ingenuity and intensive consumer focus. Our
portfolio of industry-leading and distinctive products includes Ski-Doo and Lynx
snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on and off-road vehicles,
Alumacraft and Quintrex boats, Manitou pontoons and Rotax marine propulsion
systems as well as Rotax engines for karts and recreational aircraft. We
complete our lines of products with a dedicated parts, accessories and apparel
portfolio to fully enhance the riding experience. With annual sales of CA$7.6
billion from over 120 countries, our global workforce includes close to 20,000
driven, resourceful people. www.brp.com @BRPNews (https://twitter.com/BRPnews)
Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Alumacraft, Manitou, Quintrex and the BRP
logo are trademarks of Bombardier Recreational Products Inc. or its affiliates.
All other trademarks are the property of their respective owners.
BRP media contact:
Biliana
Necheva
Media
Relations
media@brp.com
The information in this announcement is considered inside information pursuant
to the EU Market Abuse Regulation and is subject to the disclosure requirements
pursuant section 5-12 of the Norwegian Securities Trading Act. This announcement
was published by Kongsberg Automotive’s Corporate Communications contact as set
out above.
Forward-looking statements
This announcement contains forward-looking statements. Forward-looking
statements are statements that are not historical facts and may be identified by
words such as “believe”, “expect”, “anticipate”, “strategy”, “intends”,
“estimate”, “will”, “may”, “should” and similar expressions. The forward-looking
statements in this announcement are based upon various assumptions, which in
turn may be based on further assumptions. Although Kongsberg Automotive believes
that these assumptions were reasonable when made, these assumptions are
inherently subject to significant known and unknown risks, uncertainties,
contingencies and other important factors that are difficult or impossible to
predict and are beyond its control. Various factors could cause Kongsberg
Automotive’s actual results to differ materially from those projected in a
forward-looking statement. No assurances can be given that the assumptions
underlying the forward-looking statements prove to have been correct. Kongsberg
Automotive disclaims any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
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