Kitron expands business with Husqvarna Group

(2013-12-17) Husqvarna Group has decided to renew its contract with Kitron and has increased the contract scope by adding new products. The annual revenues under the new contract could be in the range of NOK 25 million until 2017. This would represent a doubling of current levels. Kitron will deliver electronics manufacturing services and the contract will position Kitron as one of the largest supplier of Printed Circuit Board Assembly (PCBA) to Husqvarna Group. "Our cooperation with Husqvarna Group has been very rewarding over the years, as they have been in the forefront of developing new technology for the outdoor power product business. This has made us continuously work smarter and more efficiently. I regard the renewed confidence in Kitron as a solid recognition of our production processes and our ability to understand and meet Husqvarna Group's true needs," says Dag Songedal, interim CEO of Kitron ASA. Manufacturing will take place at Kitron's factory in Lithuania, while some of the technical services will be developed by Kitron Sweden in close proximity to Husqvarna's facility in Husqvarna. For further information please contact: Dag Songedal, interim CEO of Kitron ASA, tel. +47 91 38 64 68 or e-mail Nils-Gunnar Fransson, Sales- and Marketing manager Sweden, Kitron AB, tel. +46 70 81 944 11 or e-mail Kitron is one of Scandinavia's leading electronics manufacturing services companies for the Defense, 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 1.7 billion in 2012 and has about 1,200 employees. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This announcement is distributed by GlobeNewswire on behalf of GlobeNewswire clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Kitron ASA via GlobeNewswire [HUG#1750430]