Kitron - Regulatory Filings 2018 | FinancialReports.eu

Kitron selected as main supplier of electronics for CROWS

(2018-10-26) Kitron has signed a long-term manufacturing agreement expected to

generate revenues of NOK 300 million with Kongsberg Defence & Aerospace AS for

electronic modules that are part of Kongsberg's weapon control system, Remote

Weapon Station (RWS).

"This is a very important agreement with significant potential for Kitron," said

Kitron CEO Peter Nilsson.

On Friday 14 September, Kongsberg announced a new framework agreement with the

U.S Army for its version of the RWS M153 CROWS (Common Remotely Operated Weapon

Stations).

For Kitron's factories in the US and Norway the CROWS program is expected

to generate annual revenues of NOK 60 million over the next five years. Volume

depends on demand and the annual budgetary procedure in the United States and

might therefore be both lower or higher.

For further information, please contact:

Peter Nilsson, President and CEO, tel. +47 94 84 08 50

Hans Petter Thomassen, Managing Director, Kitron Norway, tel. +47 913 92 360

Kitron is one of Scandinavia's leading electronics manufacturing services

companies for the Energy/Telecoms, Industry, Defence, 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 2,4

billion in 2017 and has about 1,450 employees. www.kitron.com

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act).

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