Kitron signs contract with Kongsberg Maritime
October 20 2017 - 9:21AM
(2017-10-20) Kitron have signed a frame agreement
with Kongsberg Maritime with a potential value of NOK 200 million
for the next five years. This expands the cooperation with
KONGSBERG.
Kitron will produce and deliver existing and
future electronic modules and products to Kongsberg Maritime and
actively collaborate on design, development, industrialization and
production on future products and technology.
"This agreement is strategically important for
Kitron. We have long-lasting and close relations with other
divisions in KONGSBERG. This new partnership with Kongsberg
Maritime, the largest business area within KONGSBERG, holds
significant potential for us," said Hans Petter Thomassen, Managing
Director of Kitron Norway.
Production will take place at multiple Kitron
facilities.
"The sourcing and evaluation process has been
thorough. A large number of potential suppliers have been evaluated
on technical-, production- and sourcing capabilities. With a global
presence and production footprint close to KONGSBERG markets,
Kitron demonstrates the ability to be competitive," says Frode
Kaland EVP Supply Chain, Kongsberg Maritime.
For further information, please
contact:
Peter Nilsson, CEO, tel. +47 94 84 08 50
Hans Petter Thomassen, Managing Director, Kitron Norway, tel. +47
913 92 360
E-mail: investorrelations@kitron.com
Kitron is one of
Scandinavia's leading electronic manufacturing services companies
for the Data/Telecoms, Defence, 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 2.1 billion in 2016 and has about 1,350
employees. www.kitron.com
This information is subject
to the disclosure requirements pursuant to section 5 -12 of the
Norwegian Securities Trading Act.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Kitron ASA via Globenewswire
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