(2016-05-12) Kitron has received a NOK 37 million order from Kongsberg Defence & Aerospace AS for military communications equipment.
The equipment to be supplied is related to an existing contract for deliveries to Hungary.
Kitron will supply various communications products, and production will be done by Kitron in Arendal. The contract has a value for Kitron of NOK 37 million, and deliveries will take place in 2016 and 2017.
Harald Ånnestad, President of Kongsberg Defence Systems, said:
"We are very satisfied once again to be able to award a major order to Kitron. The last twelve months we have placed orders totaling 157 MNOK to Kitron for advanced tactical communications equipment. This shows the importance of the Defence portfolio to maintain highly advanced electronics production in Norway. The recent contract with the NATO member Hungary is an excellent example of how the Norwegian tactical communications cluster is able to compete and win defence orders in the face of tough international competition."
For further information, please contact:
Peter Nilsson, CEO of Kitron ASA, tel +47 948 40 850
Hans Petter Thomassen, Managing Director of Kitron Norway, tel.+47 913 92 360
E-mail: investorrelations@kitron.com
Kitron is one of Scandinavia`s leading electronics manufacturing services companies for the Defence, Energy/Telecoms, Industry, Medical devices and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and the United States. Kitron had revenues of about NOK 1.95 billion in 2015 and has about 1 250 employees. www.kitron.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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
HUG#2011792