News | December 27, 2016

Kitron Signs Contract Worth NOK 300 Million

(GLOBE NEWSWIRE) - Kitron has signed an agreement with a leading industrial supplier. The potential contract value is NOK 300 million over a three-year period. The agreement covers manufacturing of electronics and related technical services for automation and power technologies.

Kitron's plant in Arendal, Norway, will handle the main part of the production and all deliverables. Part of the manufacturing is planned to take place at Kitron's factories in Lithuania and China. 

"Our ability to provide advanced industrialization services, test development on our proprietary SATS platform as well as cost effective automation in manufacturing were important factors in winning this contract. The agreement confirms our leading position as an EMS supplier for the Industrial segment in Scandinavia," said Peter Nilsson, CEO of Kitron ASA.

Kitron is one of Scandinavia's leading electronic manufacturing services companies for the Data/Telecoms, Defense, Energy, Industry, Medical devices and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and the United States. Kitron had revenue of about NOK 1.95 billion in 2015 and has about 1,250

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

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