Kitron ASA's Norwegian subsidiary Kitron AS and Saab Avitronics expand their strategic cooperation which has lasted since 1989. The Parties have entered into two new agreements in connection with Saab Avitronics' business in the market of civil and military electronic aviation systems. The contracts have a value of approximately NOK 10 million in the period 2008-2010. The agreements include possibilities for extended volumes in the period up to 2021.
In 2007 Kitron's total deliveries to Saab will amount to approximately NOK 115 million. The development of the cooperation is expected to increase the revenue in 2008-2009.
Saab Avitronics is a leading supplier of Avionics and Electronic Warfare Systems to the international market. Kitron is one of Scandinavia's leading companies in development, industrialisation and production of electronics for the data/telecom, defense/marine, medical, automotive and other industries.
12 November 2007
Kitron ASA
For further information, please contact:
Jan Sigvartsen, Managing director Kitron AS, phone: (+47) 9158 2910, or e-mail: jan.sigvartsen@kitron.com
Kitron is one of Scandinavia's leading companies in development, industrialisation and production of electronics for the data/telecom, defence/marine, medical, automotive and other industries. The company is located in Norway, Sweden and Lithuania. Kitron had a revenue of about NOK 1.7 billion in 2006 and has about 1,300 employees.