SCANFIL PLC STOCK EXCHANGE RELEASE 24 SEPTEMBER 2010
SCANFIL PLC ACQUIRES 32.96% OF SHARES OF KITRON ASA
Scanfil plc has done a new strategic investment to contract manufacturing branch
and bought 57,000,000 shares of Kitron ASA from Oslo exchange. Shares will give
32,96% share of ownership to Scanfil plc. The acquisition price was NOK 143,9
million (about EUR 18,0 million).
Kitron ASA is an electronics manufacturing company with production facilities in
Norway, Sweden, Lithuania, Germany and China. Kitron's turnover in 2009 was NOK
1,730.7 million (about EUR 218.5 million) and company's personnel is about
1,100.
Scanfil Plc is an investment company of which most remarkable ownership is 100%
owned Scanfil EMS Group. Other strategic investments include iLOQ Oy (18.7 %),
IonPhasE Oy (40.0 %), Panphonics Oy (40.0 %) and Lännen Tehtaat Oyj (8.6 %).
Current new investment in Kitron ASA is the second largest strategic investment
by which Scanfil Group wants to strengthen its position and commitment in
international contract manufacturing markets.
SCANFIL PLC
Harri Takanen
President
Additional information:
Harri Takanen, President
Tel +358 8 4882 111
Distribution NASDAQ OMX Helsinki
Major Media
www.scanfil.com
Scanfil Group comprises the investment and parent company Scanfil plc, and a
subgroup called Scanfil EMS Oy, which is engaged in contract manufacturing for
international telecommunications technology and industrial electronics
manufacturers. The objective of the investment activities is to make the
management of the company's funds more effective and productive by diversifying
the risks and finding new growth potential.
Scanfil Group has over 30 years of experience in demanding contract
manufacturing. Scanfil is a systems supplier that offers its products and
services to international telecommunications systems manufacturers and
industrial electronics customers. Typical telecommunications products include
equipment systems for mobile and public switched telephone networks. Automation
systems, frequency converters, lift control systems, equipment and systems for
electricity production and transmission, analysers, slot machines and different
meteorological instruments are just some examples of the industrial electronics
products we manufacture. The company has production facilities in China,
Estonia, Hungary and Finland.