Kitron receives order from Kongsberg

(2014-10-09) Kitron has received a new order worth approximately NOK 51 million from Kongsberg Gruppen for delivery of electronic modules that are part of Kongsbergs's weapon control system Remote Weapon Station (RWS).

It is Kitron's American subsidiary Kitron Inc. that has received the order from Kongsberg Defence & Aerospace AS. The order is related to the CROWS program in the United States and includes delivery of electronic modules. Production will take place at Kitron's plants in Johnstown, United States, and Arendal, Norway. Product deliveries will begin in early 2015 and continue throughout 2015.

"This is an important agreement for Kitron, and it secures further order visibility for the business in the United States. Kitron is working hard to expand in the defence sector, and this year's order intake has demonstrated that this approach is successful," said acting CEO of Kitron, Dag Songedal.

Concurrent with the new order, Kitron has been informed that parts of the order that was made public in December 2012, for delivery in 2014 and 2015, will shift slightly in time. Deliveries for this order have already started, but the main volume will move forward in time to the second half of 2015 and to 2016.

For further information please contact:
Dag Songedal, interim CEO, 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 1.6 billion in 2013 and has about 1,200 employees. www.kitron.com

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