Kitron: Change of strategy regarding distribution centre

(2013-12-13) Reference is made to earlier information regarding plans to establish a common distribution centre for Kitron. Kitron has over the last year been in a process to establish the distribution centre. However, the project has proved to be costlier and more complex that originally assumed. Kitron has therefore decided to terminate the project, partly to avoid increased operating costs going forward...

(2013-12-13) Reference is made to earlier information regarding plans to establish a common distribution centre for Kitron.

Kitron has over the last year been in a process to establish the distribution centre. However, the project has proved to be costlier and more complex that originally assumed. Kitron has therefore decided to terminate the project, partly to avoid increased operating costs going forward.

Kitron will take other measures in order to achieve the cost savings that the project was meant to deliver.

The termination will lead to a charge in the fourth quarter totalling about NOK 9 million in order to cover incurred costs and incurred liabilities.

For further information, please contact:

Dag Songedal, interim CEO, Tel: +47 913 86 468 or e-mail: [email protected]

Cathrin Nylander, CFO, Tel: +47 900 43 284 or e-mail: [email protected]

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 2012 and has about 1,200 employees. www.kitron.com

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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