Kitron ASA: Kitron signs contract with Rheinmetall

(2017-02-24) Kitron has signed an agreement with Rheinmetall MAN Military Vehicles. The potential contract value is NOK 250 million over a five-year period. The agreement covers manufacturing of electronics, measuring instruments and control devices.

The production will take place at Kitron's plant in Kaunas, Lithuania.

"One and a half year ago we announced a new contract with Rheinmetall Defence Electronics. Our operational performance and ability to fulfil our obligations have opened new opportunities with other Rheinmetall divisions. This new contract with Rheinmetall MAN Military Vehicles is a typical example of how we grow new business through horizontal integration with existing customers," said Tommy P. Storstein, Corporate sales director of Kitron ASA.

For further information, please contact:
Peter Nilsson, CEO of Kitron ASA, tel. [phone]
Tommy P. Storstein, Corporate sales director of Kitron ASA, tel. [phone]
E-mail: [e-mail] (mailto:[e-mail])

Kitron is one of Scandinavia's leading electronic manufacturing services companies for the Data/Telecoms, Defense, 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 (http://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