Zurich, November 9, 2023: Kongsberg Automotive AS (KA) has signed an agreement
yesterday evening to purchase 100 percent of the share capital of Skriverform
AS. Based in Norway, Skriverform designs and manufactures tools for injection
molding (IM).
The acquisition of Skriverform represents another step forward in our strategic
objectives. It is primarily motivated by our desire to achieve vertical
integration and gain reliability and better control over our supply chain. This
purchase positions us to streamline our operations and optimize efficiency,
ultimately benefiting both our bottom line and our customers. Founded in 1964,
Skriverform has been KA's trusted partner of choice for more than two decades.
This transaction is a part of KA's Shift Gear program to further explore niche
markets, grow sustainably, and offer innovative products and services to KA and
the existing customer base
Skriverform brings with it 12 highly skilled and competent employees dedicated
to IM tooling production and tooling maintenance capabilities from its facility
in Norway. The similarity of our corporate cultures will greatly facilitate and
enable a smooth integration process.
"Over the last two decades, KA and Skriverform formed a strong relationship and
have built a rich history of collaboration. We are excited about this
acquisition as we expect that it will enable KA to build further in-house
knowledge of injection molding tooling, production, maintenance, and other
capabilities. We look forward to welcoming highly trained employees from
Skriverform, who are experts on IM tooling," says Linda Nyquist-Evenrud,
President & CEO of KA.
"Over the years, KA has been our biggest and strongest customer-as we made
custom tools for the company with high level of technical details. This
acquisition fulfills KA's goal to vertically integrate, develop and expand the
business even further, "says Evy Sunde, Managing Director of Skriverform,
adding, "I am confident that Skriverform team is in good hands at KA and will
have the opportunity to grow and prosper."
The transaction is expected to close before the end of 2023.
Media and Communications contact:
Therese Sjöborg Skurdal - Director Corporate Communications
therese.skurdal@ka-group.com (therese.skurdal@ka-group.com )
+47 982 14 059
Investor Relation contact:
Mads Langaard - Head of Investor Relations
mads.langaard@ka-group.com
+47 905 81 264
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