- BRP ( NASDAQ: DOOO ) has entered into a definitive pact with Kongsberg Automotive ASA ( OTCPK:KGAUF ) and its subsidiary Kongsberg Inc. to acquire substantially all the assets related to its powersports business located in Shawinigan, Quebec.
- Kongsberg Automotive provides cutting-edge technology and engineering to the global vehicle industry. Shawinigan specializes in the production of a wide range of products for powersports applications, such as sensors, actuators, electronic power steering, wire harnesses, dashboard assemblies, etc., Shawinigan is a long-standing supplier of BRP.
- The sale of a part of the Shawinigan operation is a part of KGAUF’s ongoing strategy to execute the transformation roadmap and react flexibly to market and customer trends.
- The deal is subject to customary closing conditions and is expected to be completed by the end of Q3 2022.
- BRP plans on providing ongoing employment to Shawinigan employees who are part of the acquisition and to continue the operations of this entity at its location in Shawinigan.
For further details see:
BRP to acquire a part of Kongsberg's Shawinigan operations in Canada