(2012-12-21) Kitron has received new orders of about NOK 50 million from Kongsberg for delivery of electronic modules that are part of Kongsberg's weapon control system Remote Weapon Station (RWS).
It is the US subsidiary of Kitron, Kitron Inc., that has received the orders from Kongsberg Defence & Aerospace AS. The orders are related to an international vehicle program and includes both industrialization services, test development projects and delivery of products. Manufacturing will take place at Kitron's factories in Johnstown, USA, and in Arendal, Norway. Deliveries will mainly take place in 2014 and 2015.
"This is a very important agreement for Kitron. The end customer is new to us, and the potential is large. The future looks promising in the defense segment and we have a strong momentum in this segment, "says Kitron CEO Jørgen Bredesen, pointing out that several large contracts has been won in the last months.
During the third quarter Kitron secured two other major contracts with Kongsberg; a manufacturing agreement for electronics modules for the US Army for CROWS weapon station and an order related to military communications equipment.
In addition, Kitron is involved in several other defense programs including Lockheed Martin and Kongsberg. The Defence segment is also a priority for Kitron's new operation in Germany.
For further information please contact:
Jørgen Bredesen, CEO of Kitron ASA, tel. +47 48 25 25 84 or e-mail jorgen.bredesen@kitron.com
Dag Songedal, Managing Director of Kitron AS, tel. +47 91 38 64 68 or e-mail dag.songedal@kitron.com
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 2011 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