Kongsberg secures $63.7 million auto supply deal

ZURICH, Switzerland—Parts manufacturer Kongsberg Automotive Holding A.S.A. has secured a $63.7 million (€58 million) contract to supply fluid transfer systems to a "Tier 1" car manufacturer in North America.

The Swiss company's fluid transfer systems (FTS) business unit will provide Fluoro-Comp-branded hoses and stainless-steel braided Polytetrafluoroethylene (PTFE) brake lines to the auto maker over the next four years, Kongsberg announced March 16.

The Fluoro-Comp hose is a non-metallic reinforced PTFE hose used for applications that require low weight and tight packaging.

According to Kongsberg, the hose can withstand "extreme temperature" with burn-through resistance, offering properties of a PTFE hose while maintaining the processing ease of a polyamide or rubber hose.

The hydraulic brake hose, the company added, features a PTFE liner and stainless-steel braid.

Both products can be used in internal combustion engines as well as electric vehicles.

Kongsberg will produce and supply the products to the car maker from its two facilities in Suffield, Connecticut, and Grand River, Ohio.

"We are delighted to secure this agreement with a key partner in this important market area," said David Redfearn, executive vice president of the FTS unit.

"These world-leading safety critical products continue to drive our growth," he added.