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13/03-2018 10:32:08: (KOG) Huge potential for KONGSBERG in Qatar

KONGSBERG has signed a cooperation agreement in Qatar for long-term technology
development programs within defence, maritime industry and digitalization. The
first programme in relation to the cooperation will be delivery of
communication, digitalization and tower solutions for military vehicles, a
programme with a potential of approximately NOK 15 billion over the next eight
years. The programme will be the largest in KONGSBERG's history and entail
15.000 Norwegian man-labour years and involve more than 170 Norwegian

Together with Qatari authorities, KONGSBERG has established a new company for
technology development programs. The company, BK Systems, will have its main
office in Qatar Science & Technology Park, and KONGSBERG holding the CEO
position. The park is an innovation hub for leading international industry and

- BK Systems will be an important company for the development of technology and
solutions within defence, digitalization and maritime industry in Qatar. The
establishment of this cooperation shows that Norwegian high-tech industry is
world-leading and in demand. We see considerable opportunities and potential for
Norwegian industry and technology development with this establishment, says Geir
Håøy, President and CEO of KONGSBERG.

Today, Qatari authorities announced the companies that have been selected to
deliver to the country's upcoming vehicle programme which is to be delivered
over the next eight years. KONGSBERG is to deliver tower solutions, and
digitalization and communication solutions to 490 armoured vehicles delivered by
the French company Nexter. The next steps in the process will be detailing and
final negotiations prior to signing the final contract for the programme.

- The vehicle program will be KONGSBERG's single largest contract ever and
entails considerable Norwegian value creation and high-tech jobs for many years
to come. The potential is approximately 15 billion kroner for KONGSBERG.
Approximately 15.000 Norwegian man-labour years and more than 170 small and
medium sized sub-suppliers will be involved in the programme over the next eight
years, says Håøy.

KONGSBERG is to deliver the solutions "PROTECTOR Remote Weapon Station" and
"Medium Caliber Turret" to the programme, both tower solutions developed for
increased protection of personnel. The PROTECTOR Remote Weapon Station is a
system that was developed in cooperation with Norwegian armed forces towards the
end of the 1990s, and has since been continuously developed and is now the
world-leading solution with close to 20.000 systems delivered to 19 nations. The
Medium Caliber Turret is a further developed, larger sized solution currently
under delivery to the US armed forces. In addition to the delivery of the tower
solutions, the agreement also includes delivery of integrated digitalization and
communication solutions for the vehicles.

- Together with other Norwegian high-tech industry, KONGSBERG has for decades
built up world-leading competence on system integration, decision support tools
and digitalization solutions which are to be delivered to this vehicle
programme. Today we are the world-leading supplier of these systems and we are
pleased that the Qatari authorities have chosen our solutions, technology and
competence, says Håøy.      

For further information, please contact:

Ronny Lie, Group Vice President Communications, Tel.: (+47) 916 10 798.

Jan Erik Hoff, Group Vice President Investor Relations, Tel.: (+47) 991 11 916.

KONGSBERG (OSE-ticker: KOG) is an international, knowledge-based  group
delivering high technology systems and solutions to clients within the oil and
gas industry, merchant marine, defence and aerospace. KONGSBERG has 7 000
employees located in more than 25 countries and total revenues of NOK 14.5
billion in 2017. Follow us on Twitter: @kongsbergasa.

This information is subject to disclosure requirements pursuant to §5-12 of the
Norwegian Securities Trading Act.

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fredag 21/09-2018 16:25:06