Kongsberg Automotive

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Kongsberg Automotive Holding ASA
Type	Public (OSE: KOA)
Founded	March 24, 1987
Headquarters	Kongsberg, Norway
Area served	Global
Key people	Olav Volldal (CEO) Curt Germundsson (Chairman)
Industry	Automotive
Products	Automotive parts
Revenue	▲ NOK 2,863 million (2006)
Operating income	NOK 276 million (2006)
Net income	NOK 156 million (2006)
Employees	2,727 (2006)
Website	kongsbergautomotive.com

Kongsberg Automotive (OSE: KOA) is an automotive parts manufacturer based in Kongsberg, Norway. The company produces a broad range of parts with production plants throughout the world. The company is listed on the Oslo Stock Exchange

[edit] History

The company started as a division of Kongsberg Våpenfabrikk in 1957 with an agreement with Volvo to produce brakes for the company's trucks. In the 1970s the division expanded with factories in Hvittingfoss and Rollag. On March 24, 1987 the division was demerged as a separate company.

On January 1, 2008 Kongsberg bought out the automotive division of Teleflex Automotive. On April 2, 2008 USW Local 1-524 in Van Wert, Ohio rejected a contract proposal by Kongsberg that asked for a 40% wage decrease, a pension freeze, and an increase in the employee's contribution for medical benefits. Employees reported to work that night to find police tape closing off the entrance to the factory and a large group of paramilitary guards watching over the facility. The plant manager then proceeded to read a letter proclaiming the Union Employees were locked out until the Union accepted their offer. These employees are still locked out, and replacement workers are being sent in by bus. Union members are picketing the plant 24/7.

The company also didn't respond to unemployment claims for the locked out workers which caused a delay in receiving any aid. Most employees of this plant have worked at this plant for at least 20 years.

For the complete history, visit the company website TimeLine Kongsberg Automotive.