Kongsberg Automotive has completed the sale of its Light Duty Cables (LDC) business unit to Suprajit Engineering Limited (‘Suprajit’).
The LDC business unit is engaged in the development, manufacture and sales of world-class mechanical and electro-mechanical light-duty cables used in the automotive industry and off-highway applications. Kongsberg Automotive and Suprajit entered into a definitive agreement on October 28, 2021, and the transaction closed on April 6, 2022 for an enterprise value of EUR 37.7 million.
“The sale of the LDC business unit allows us to consolidate our ambitions to become stronger and second to none in our future focus areas—on-highway and off-highway,” said Joerg Buchheim, President & CEO of Kongsberg Automotive.
SOURCE: Kongsberg Automotive