Kitron receives the first prototype orders from Cassidian

(2013-12-20) Kitron has received the first orders from Cassidian Optronics GmbH, a worldwide leader in optronic defense and security solutions. The orders cover prototype production of power supply units for one of Cassidian Optronic's target acquisition systems. Cassidian Optronics is a subsidiary of Cassidian, the defense branch of EADS, the future Airbus Group, which also includes Airbus and Eurocopter among its divisions. "Kitron has over a long period of time worked hard to win Cassidian Optronics as a new client. We have involved our entire organization in the process, as Cassidian, respectively the future Airbus Defence and Space, is considered to be key to our future growth in the German defense industry," says Tommy P. Storstein, Corporate Sales Director at Kitron ASA. "These initial orders are of limited value in terms of revenue, but they are a milestone for Kitron's operations in Germany. They exemplify our objective of doing business with the major players within our defined segments. These orders are expected to give us a substantial business potential with the whole affiliated group in the future," Storstein adds. Kitron's facilities in Germany will be responsible for all deliverables to Cassidian Optronics, while the manufacturing will take place at Kitron's factory in Lithuania. For further information please contact: Dag Songedal, interim CEO of Kitron ASA, tel. +47 91 38 64 68 or e-mail Tommy P. Storstein, Corporate Sales Director at Kitron ASA, tel. +47 93 66 99 09 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. Cassidian, the defense division of EADS, is a worldwide leader in defense and security solutions. The company delivers advanced defense systems along the whole action chain from sensors through command & control systems to combat aircraft and unmanned air systems. In the area of security, Cassidian provides customers worldwide with border surveillance systems, cyber security solutions and secure communications. In 2012, Cassidian - with around 23,000 employees - achieved revenues of € 5.7 billion. Effective from January 1, 2014, Cassidian will be integrated into 'Airbus Defence and Space' together with Airbus Military and Astrium. EADS is a global leader in aerospace, defense and related services. In 2012, the Group generated revenues of € 49.1 billion and employed a workforce of more than 133,000. 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#1751442]