Kitron: Harris Awards Block Buy Contract to Kitron for F-35 Work

(2019-05-15) Kitron has received a contract from Harris (NYSE: HRS) for production of Integrated Backplane Assembly (IBA) for the F-35. The contract covers an economic order quantity buy for production lots 12 through 14. The potential value of the contract is $18 million USD.

The IBA is an advanced and complex high-level assembly, and deliveries start this year and continue through 2021.

"With the Economic Order Quantity sub-contract Kitron have become the largest international supplier for Harris Corporation. This is an achievement for a small supplier from Norway, which makes me proud,” said Hans Petter Thomassen, Managing Director of Kitron Norway.

Norway is one of the international partner countries participating in the F-35 program. Under the manufacturing license agreement between Kitron and Harris, Kitron will manufacture, test, maintain and repair the IBA in the F-35.

The F-35 Lightning II is a next generation fighter, combining advanced stealth with fighter speed and agility, advanced mission systems, fully fused sensor information, network-enabled operations and cutting-edge sustainment. Three distinct variants of the F-35 will replace various aircraft for the U.S. Air Force, Marine Corps and Navy, and more than ten international countries.

For further information, please contact:
Cathrin Nylander, CFO and acting CEO, tel. +47 900 43 284
Hans Petter Thomassen, Managing Director, Kitron Norway, tel. +47 913 92 360
E-mail: investorrelations@kitron.com

Kitron is one of Scandinavia's leading electronics manufacturing services companies for the Energy/Telecoms, Industry, Defence/Aerospace, Medical devices and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and the United States. Kitron had revenues of about NOK 2.6 billion in 2018 and has about 1,700 employees. www.kitron.com

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