Manufacturing agreement with Kongsberg
Kitron AS, a subsidiary of Kitron ASA, has signed a 5 year manufacturing agreement with Kongsberg related to deliveries of electronics to the NSM (Naval Strike Missile). The parties have also agreed on a letter of intent to co-operate in the first phase of the manufacturing of electronics for the JSM (Joint Strike Missile). In connection with the signing of the agreement Kitron has received the first order for the NSM, which amount to NOK 15 million, and is for delivery in the first half of 2012.
Kitron has significant expectations to the agreement, and consider the signing to be an acknowledgment of Kitron's competence within complex electronics for the defense industry.
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Kitron is one of Scandinavia's leading Electronic Manufacturing Services companies for the Data/Telecoms, Defence, Energy, Industry, Medical equipment and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and USA. Kitron had a revenue of about NOK 1.7 billion in 2010 and has about 1,100 employees. www.kitron.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.