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Kongsberg Automotive Holding ASA Increases Stake in Chinese Joint Venture


Tuesday, 22 Jan 2013 08:35am EST 

Kongsberg Automotive Holding ASA announced that it has acquired a further 24% stake in Shanghai Kongsberg Automotive Dong Feng Morse Ltd (SKADFM), bringing its total ownership in the business to 75%. The increased shareholding will create more opportunities for growth in China and Asia. SKADFM is a joint venture company established in 1995. Kongsberg Automotive Holding sees the increased ownership in the venture as an opportunity for further growth in the Asian market, in particular as a supplier to Chinese truck manufacturers. Kongsberg Automotive Holding paid approximately RMB 19 million (EUR 2.3 million, or NOK17 million) in cash for the 24% stake. 

Company Quote

6.77
0.06 +0.89%
23 Jul 2014