Kitron has signed a letter of understanding (LOU) with a strategic customer in the Medical segment that confirms and regulates the conditions of procurement of High Level Assembled (HLA) products from Kitron.
Upon mutual agreement of the conditions specified in the LOU, it is the customer's intention to purchase initial prototype volumes and initial production volumes of HLA products from Kitron until 31 December 2007.
Kitron's increased revenue due to this LOU is estimated to approximately NOK 150 million in the above period.
For further information please contact:
- Kitron ASA, Chief Executive Officer Jan T. Jørgensen, mobile 918 37 759
- Kitron AS, President Jan Sigvartsen, mobile 915 82 910
- Kitron ASA, Chief Financial Officer Morten Jurs, mobile 991 67 922
Kitron is one of Scandinavia's leading EMS companies within development, industrialisation and manufacturing of data/telecom, defence/marine, industry and medical equipment. The group is located in Norway, Sweden and Lithuania. Kitron's revenue in 2005 was NOK 1,6 billion and the Kitron group has approx. 1,200 employees.