Kimball Electronics Group, Inc., a subsidiary of Kimball International, Inc. (NASDAQ:KBALB), announced today that the Company’s Kimball Electronics-Poland facility has been awarded a major new business program to manufacture automotive steering systems for the European market. Kimball Electronics Group is a global contract electronics manufacturing services (EMS) company that specializes in durable electronics with applications in the automotive, medical, industrial controls, and public safety industries.
The new business is related to the next generation of electronically power-assisted steering, with production slated to begin in late 2008. Total value of the program is estimated at 130 million euros (approximately $170 million) over 5 years. The selection of Kimball Electronics-Poland to supply the new steering electronic control units and components is significant, as the rapid acceptance of electronic steering by the European market is expected to continue, putting Kimball in a strong position for growth.
“This acceptance is driven by the eco-benefits in improved fuel economy and emissions as well as the advanced functions and easy packaging the system offers”, said Angus Watson, Director, Automotive Industry Solutions, Kimball Electronics Group.
“Our relationship with this particular customer is long-standing and we have made significant investments in recent years to expand the relationship in order to support growing business in Europe. We view this new business award as a strong testimonial in support of the partnership, and is the result of the team effort and hard work by people located in both the U.S. and Europe", stated Don Charron, President, Kimball Electronics Group.
Jim Thyen, President and Chief Executive Officer, Kimball International, added, “We are honored to have the opportunity to continue our service as a strategic supplier. We remain committed to the automotive end market and to our diversification strategy to expand our coverage of applications, vehicle brands, and geographies.”
About Kimball Electronics:
Kimball Electronics Group is a global contract electronics manufacturing services company that specializes in durable electronics for the automotive, medical, industrial and public safety markets. Kimball Electronics Group is well recognized by customers and industry trade publications for its excellent quality, reliability and innovative service. Kimball Electronics Group has manufacturing operations in the U.S., Mexico, Thailand, Poland, Wales, Ireland, and China. Kimball Electronics Group is a business unit of Kimball International, a $1.2 billion publicly held company headquartered in Jasper, Indiana.
To learn more about Kimball Electronics Group, visit our website at: www.kegroup.com
About Kimball International:
Recognized with a reputation for excellence, Kimball International is committed to a high performance culture that values personal and organizational commitment to quality, reliability, value, speed, and ethical behavior. Kimball employees know they are part of a corporate culture that builds success for customers while enabling employees to share in the Company’s success through personal, professional and financial growth.
Kimball International, Inc. (NASDAQ:KBALB) provides a variety of products from its two business segments: the Furniture segment and the Electronic Contract Assemblies segment. The Electronic Contract Assemblies segment provides engineering and manufacturing services which utilize common production and support capabilities to a variety of industries globally. The Furniture segment provides furniture for the office and hospitality industries, sold under the Company’s family of brand names.
To learn more about Kimball International, Inc., visit the Company’s website on the Internet at: www.kimball.com
“Kimball International … We Build Success!”
