Kitron Secures Major Manufacturing Contract for IoT Solutions
Kitron Enters Significant Contract for IoT Solutions
Kitron has made a noteworthy advancement by signing a manufacturing contract with a renowned technology company that specializes in innovative IoT solutions. This five-year partnership indicates a strong commitment to evolving technologies in the marine sector.
Details of the Contract
As part of this agreement, Kitron has received orders amounting to EUR 15 million slated for delivery in 2025. The contract primarily encompasses a sophisticated gateway designed for sensors that facilitate data transfer to the cloud. This technology is pivotal for asset tracking, particularly within the logistics domain.
Executive Insights
Mindaugas Sestokas, Vice President for Central Eastern Europe, expressed enthusiasm regarding this collaboration, stating, "We are extremely happy that the customer has chosen Kitron as a long-term production partner for its innovative IoT offering. Connectivity, including IoT, is one of Kitron’s prioritized market sectors, so this fits perfectly with our strategy." This statement underscores Kitron’s focus on integrating IoT technologies into its portfolio.
Production Capabilities
The production related to this contract will take place at Kitron’s state-of-the-art facility in Kaunas, Lithuania. The agreement specifies that the production will include high-level assembly operations, highlighting Kitron’s commitment to maintaining high standards in manufacturing.
About Kitron
Kitron stands as a leading Scandinavian electronics manufacturing services company, providing solutions across various sectors such as Connectivity, Electrification, Industry, Medical Devices, and Defence/Aerospace. With a robust presence in numerous countries, including Norway, Sweden, Denmark, Lithuania, Germany, Poland, the Czech Republic, India, Malaysia, China, and the United States, the company employs around 2,500 individuals and reported revenues of EUR 775 million in a recent fiscal year.
Company Contact Information
For further details, interested parties can reach out to:
Peter Nilsson, President and CEO, tel. +47 948 40 850
Mindaugas Sestokas, VP CEE, tel. +370 685 25557
E-mail: investorrelations@kitron.com
Frequently Asked Questions
What is the value of the contract Kitron signed?
The contract is valued at EUR 15 million for delivery in 2025.
What is the focus of the technology developed in this contract?
The technology focuses on IoT solutions for asset tracking within the logistics sector.
Where will the production take place?
The production will occur at Kitron's facility in Kaunas, Lithuania.
Who can be contacted for more information about Kitron?
Peter Nilsson and Mindaugas Sestokas are the primary contacts for inquiries.
In which sectors does Kitron operate?
Kitron operates in various sectors including Connectivity, Electrification, Industry, Medical Devices, and Defence/Aerospace.
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