Kitron ASA: Kitron signs contract with Efore Group

(2019-04-03) Efore Group, headquartered in Espoo, Finland, has selected Kitron ASA as manufacturing partner for some of its EMS production. The contract forms the basis for a long-term partnership and has a potential value of approximately NOK 25 million in the first year of full production.

The scope of the contract includes electronic board build and high-level assembly. Production will take place at Kitron's factory in Lithuania.

"With its competence and capabilities within EMS services, we consider Kitron as very valuable strategic partner supporting some of our EMEA manufacturing going forward," said Ruben Tomassoni, VP Operation of Efore.

Efore is an international company which designs and manufactures custom and standard DC power systems and AC/DC power supplies for a wide range of demanding industry applications including telecom, industrial, medical, lighting, utility and military.

"Kitron aims to do business with the major players within our defined market sectors. Efore is a leading company within industrial technology for power conversion systems and we see several opportunities between our two companies beyond the contract we have just signed," said Israel Losada Salvador, COO and Sales Director of Kitron.

For further information, please contact:
Cathrin Nylander, CFO and acting CEO, tel: [phone]
Israel Losada Salvador, COO and Sales Director, tel. [phone]
E-mail: [e-mail] (mailto:[e-mail])

Kitron is one of Scandinavia's leading electronics manufacturing services companies for the Defence/Aerospace, Energy/Telecoms, Industry, Medical devices and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and the United States. Kitron had revenues of about NOK 2.6 billion in 2018 and has about 1,700 employees. www.kitron.com (http://www.kitron.com)

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

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Source: Kitron ASA via Globenewswire