Kitron has concluded a deal to acquire a factory and the underlying land lease in Lithuania for EUR 3.4 million from a group of Irish investors. The property is called Taikos 151 and is the same at which Kitron is currently conducting its operations.
This investment is in line with Kitron's strategy to increase its production capacity in Lithuania. The plan is to develop the property and double the floor space from today's approximately 5000 m2 and substantially increase the production capacity within the next few years.
This investment is in line with Kitron's strategy to increase its production capacity in Lithuania. The plan is to develop the property and double the floor space from today's approximately 5000 m2 and substantially increase the production capacity within the next few years.
30 June 2008
Kitron ASA
Kitron ASA
For further information, please contact:
Jørgen Bredesen, CEO of Kitron ASA, phone: (+47) 4825 2584, or e-mail: jorgen.bredesen@kitron.com
Björn Wigström, CFO of Kitron ASA, phone: (+47) 9053 1304, or e-mail: bjorn.wigstrom@kitron.com
Jørgen Bredesen, CEO of Kitron ASA, phone: (+47) 4825 2584, or e-mail: jorgen.bredesen@kitron.com
Björn Wigström, CFO of Kitron ASA, phone: (+47) 9053 1304, or e-mail: bjorn.wigstrom@kitron.com
Kitron is one of Scandinavia`s leading companies in development, industrialisation and manufacturing of electronics for the Data/Telecom, Defence/Marine, Medical equipment and Industry sectors. The company is located in Norway, Sweden and Lithuania. Kitron had a revenue of about NOK 1.9 billion in 2007 and has about 1,300 employees. www.kitron.com