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June 19, 2002

Kongsberg Simrad and ABB in cooperation agreement
Kongsberg Simrad AS and ABB AS have entered a worldwide cooperation agreement on joint marketing, sales and technology development to marine and offshore vessels. As part of this agreement, ABB's dynamic positioning business will be transferred to Kongsberg Simrad.
The two companies say they offer predominantly complementary products and systems. Through the cooperation, they aim to become the leading vendor of packages of vessel automation, dynamic positioning, electric power, propulsion, and thruster systems to marine and offshore vessels. These integrated systems will take advantage of the best of technology and marine knowledge from both companies.
Both companies will capitalize on ABB`s new industrial IT technology by what's described as "a joint development program on integration of total solutions, enhancing the vessel's performance, reliability, safety, fuel consumption and emission. Technology leadership will be secured by focusing the development resources on core competencies, technologies, and products."

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