Kitron AS Signs Long-Term Supply Agreement with Northrop Grumman

(2015-09-21) Kitron AS, a subsidiary of Kitron ASA, has signed a long-term agreement with Northrop Grumman Corporation [NYSE: NOC] to supply subassembly electronic modules for F-35 Lightning II aircraft avionics.

The agreement is effective through 30 June 2036 (30 years) and includes rights for future extensions.

The companies said the agreement's purpose is to establish a cooperative and supportive relationship committed to the development of a cost-effective and technically superior source that will provide the best value for the F-35 Communications, Navigation and Identification (CNI) program.

"This Agreement affirms Kitron's position with Northrop Grumman as an important partner and supplier of complex electronic modules and technical services like test development, as well as a source for repair of avionics for the Joint Strike Fighter", said Hans Petter Thomassen, Managing Director of Kitron AS.

Northrop Grumman's integrated CNI suite provides F-35 pilots with the capability of more than 27 avionics functions including voice and data communication. The CNI design uses advanced software-defined radio technology that allows the simultaneous operation of multiple critical functions while greatly reducing size, weight and power demands on the advanced fighter aircraft.

The Lockheed Martin [NYSE: LMT] F-35 Lightning II is the world's most advanced military aircraft combining advanced stealth with fighter speed and agility, advanced mission systems, fully fused sensor information, network-enabled operations and cutting-edge sustainment.

For more than a decade, the United States, Norway and seven other partner nations have invested in developing this 5th generation, international, multirole fighter that the Norwegian Ministry of Defence has said will be "one of the core capabilities of our future defence structure, representing a significant increase in our combat capabilities." In addition to the nine partners, three countries have agreed to procure F-35 aircraft through the Foreign Military Sales process.

The first F-35A Lightning II for Norway is scheduled for delivery tomorrow, September 22, 2015.

For further information please contact:
Peter Nilsson, CEO of Kitron ASA, tel. +47 94 84 08 50 or e-mail peter.nilsson@kitron.com   
Hans Petter Thomassen, Managing Director of Kitron AS, tel. +47 91 39 23 60 or e-mail hans.petter.thomassen@kitron.com

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).