Kitron — Regulatory Filings 2018

Oct 17, 2018

Kitron signs contract with Magseis

Kitron signs contract with Magseis

(2018-10-17) Kitron and Magseis ASA has entered into an agreement to manufacture

Magseis' MASS (Marine Autonomous Seismic System) nodes to support their growth.

Magseis is a Norwegian geophysical company founded in 2009, specialising in OBS

- Ocean Bottom Seismic - acquisition. Magseis has developed their proprietary,

autonomous MASS nodes and fully automated handling system, which is used to

acquire high quality seismic data for clients. The OBS market is in steady

growth and the demand for OBS nodes is increasing.

Based on Kitron's experience and capacity, Magseis has awarded Kitron a contract

to supply electronics, high-level assembly and system testing of the MASS nodes.

Production will take place at Kitron's plant in Arendal, Norway, and the

contract is valid for 3 years with an option to extend.

"This contract provides renewed growth in Kitron's Offshore/Maritime market

sector. There are several opportunities between our two companies beyond the

agreement that has just been signed, and the cooperation will strengthen

Kitron's position as one of Scandinavia's leading EMS companies," said Israel

Losada Salvador, COO and Sales Director of Kitron.

For further information please contact:

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

Israel Losada Salvador, COO & Sales Director, tel. +47 99 15 91 38

E-mail: investorrelations@kitron.com

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).