(2012-09-28) Kitron has received orders from Kongsberg Defence & Aerospace AS related to military communications equipment.
The contract has a value for Kitron of NOK 70 million, with the possibility of further expansion of approximately NOK 20 million. Deliveries will take place in 2013, 2014 and 2015.
"Defence is one of our most important markets. This agreement confirms our competitiveness and strong position in this segment, "says Kitron CEO Jørgen Bredesen.
Kongsberg has previously entered into a contract with the Armed Forces Logistics Organisation for the delivery of radio equipment for use in vehicles and in the soldier-level communication environment. Kitron will manufacture this equipment for Kongsberg and provide services related to industrialization. Kongsberg's contract with the military extends the lifetime of previously delivered communications equipment enabling the Armed Forces to meet the operative needs of tomorrow. The upgrade will provide a robust, secure radio communications solution based on IP, thereby increasing the operational forces' ability to interoperability both nationally and internationally.
It is Kitron ASA's subsidiary, Kitron AS in Arendal, which will manufacture the radio and deliver the services to Kongsberg.
"This is a very important agreement for Kitron, and the facility in Arendal in particular. The agreement demonstrates our expertise in advanced communications equipment and strengthens our position as a supplier of electronics to the defence industry, "continues Bredesen.
For further information please contact:
Jørgen Bredesen, CEO of Kitron ASA, tel. +47 48 25 25 84 or e-mail jorgen.bredesen@kitron.com
Dag Songedal, Managing Director of Kitron AS, tel. +47 91 38 64 68 or e-mail dag.songedal@kitron.com
Kitron is one of Scandinavia's leading electronics manufacturing services companies for the Defence, Energy/Telecoms, Industry, Medical equipment and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and the United States. Kitron had revenues of about NOK 1.7 billion in 2011 and has about 1,200 employees. www.kitron.com
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act