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
"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
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 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
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 â‚¬ 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 â‚¬ 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.
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Source: Kitron ASA via GlobeNewswire