Kitron signs contract with Kongsberg Maritime (

(2017-10-20) Kitron have signed a frame agreement with Kongsberg Maritime with a potential value of NOK 200 million for the next five years. This expands the cooperation with KONGSBERG.

Kitron will produce and deliver existing and future electronic modules and products to Kongsberg Maritime and actively collaborate on design, development, industrialization and production on future products and technology.

"This agreement is strategically important for Kitron. We have long-lasting and close relations with other divisions in KONGSBERG. This new partnership with Kongsberg Maritime, the largest business area within KONGSBERG, holds significant potential for us," said Hans Petter Thomassen, Managing Director of Kitron Norway.

Production will take place at multiple Kitron facilities.

"The sourcing and evaluation process has been thorough. A large number of potential suppliers have been evaluated on technical-, production- and sourcing capabilities. With a global presence and production footprint close to KONGSBERG markets, Kitron demonstrates the ability to be competitive," says Frode Kaland EVP Supply Chain, Kongsberg Maritime.

For further information, please contact: Peter Nilsson, CEO, tel. +47 94 84 08 50    Hans Petter Thomassen, Managing Director, Kitron Norway, tel. +47 913 92 360    E-mail: investorrelations@kitron.com

Kitron is one of Scandinavia's leading electronic manufacturing services companies for the Data/Telecoms, Defence, Energy, Industry, Medical devices and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and the United States. Kitron had revenue of about NOK 2.1 billion in 2016 and has about 1,350 employees. www.kitron.com This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.