Kitron signs agreement with global energy company

(2015-11-03) Kitron has signed an agreement with a global energy company headquartered in the US. The agreement is valid for three years with an option of a one-year extension. The deal is estimated to be worth NOK 100 million for Kitron. Tommy P. Storstein, Corporate sales director of Kitron, said: "We have agreed with the client that Kitron initially will deliver prototypes and serial manufacturing for a specific product family of power controllers...

(2015-11-03) Kitron has signed an agreement with a global energy company headquartered in the US.

 

The agreement is valid for three years with an option of a one-year extension. The deal is estimated to be worth NOK 100 million for Kitron.

 

Tommy P. Storstein, Corporate sales director of Kitron, said:

"We have agreed with the client that Kitron initially will deliver prototypes and serial manufacturing for a specific product family of power controllers. The first prototypes will be delivered from our factory in Lithuania, but Kitron's facilities in China and the US are also considered as applicable supply partners for the future. Manufacturing services for high-end power and control solutions is a technology and market that is well known to Kitron. Hence, in combination with our geographical footprint we are confident that we will add value and grow business with our new customer throughout its global operations."

 

For further information please contact:

Peter Nilsson, CEO Kitron ASA, tel. +47 948 40 850 or e-mail [email protected]

Tommy P. Storstein, Corporate sales director Kitron ASA, tel. +47 93 66 99 09 or e-mail [email protected]

 

Kitron is one of Scandinavia's leading electronics manufacturing services companies for the Defence/Aerospace, 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 1.75 billion in 2014 and has about 1 200 employees. www.kitron.com

 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)

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