The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.32 - Manufacture Of Other Parts And Accessories For Motor Vehicles
No information on job gains number available
Announcement Date
12 May 2024
Employment effect (start)
Foreseen end date
Description
Kongsberg Automotive, a Norwegian automotive parts manufacturer, is relocating its headquarters from Zurich, Switzerland back to Kongsberg, Norway. This strategic move is part of the company's realignment with its corporate identity and operational efficiency goals. Zurich will continue to function as the company's financial center. The decision follows an evaluation by the Board of Directors and Executive Management to strengthen ties to the company’s origins and streamline operations.
The Norwegian government has welcomed the move and Minister of Trade and Industry Cecilie Myrseth (Labour Party) commented that all this exemplifies the profitability of doing business in Norway.
Kongsberg Automotive, was established in 1987 but has its origins in Kongsberg Våpenfabrikk, a defence and weaponry company, which began producing brakes and driveshafts for Volvo in the late 1950's. The company specializes in driver and motion control systems, fluid assemblies, and industrial driver interface products. It has production facilities in 17 countries, including at Kongsberg and Raufoss, Norway.
Eurofound (2024), Kongsberg Automotive, Reshoring in Norway, factsheet number 201204, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201204.
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