(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 81Â 944 11 or e-mail email@example.com
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. www.kitron.com
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
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Source: Kitron ASA via GlobeNewswire