Automotive industry company Kongsberg Automotive (OSE:KOA) announced on Friday that it has secured a five-year contract extension valued at over EUR56m in estimated lifetime revenue for its Fluoro-Comp and stainless-steel braided hoses.

A global Tier 1 automotive supplier awarded the renewal. Manufacturing and supply will be handled by Kongsberg Automotive facilities in Suffield, Grand River (USA), and Ramos Arizpe (Mexico).

The Fluoro-Comp hose, a non-metallic reinforced PTFE hose, is designed for various automotive and commercial vehicle applications. Offering resistance to extreme temperatures, low permeation and burn-through, it combines the performance of PTFE with the flexibility of nylon or rubber hoses. These attributes ensure superior durability and ease of installation.