Kitron selected as main supplier of electronics to CROWS
(Thomson Reuters ONE) -
(2012-08-27) Kitron ASA has signed a long term manufacturing agreement 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 for Kitron with significant potential," says
Kitron CEO Jørgen Bredesen, and mention Kongsberg's newly won framework
agreement with the U.S. Army for their version of the RWS M153 CROWS (Common
Remotely Weapon Stations).
The agreement Kongsberg Protech Systems (KPS) has entered into with Kitron's
subsidiaries in Arendal, Norway and the U.S. means that Kitron is the preferred
supplier of electronics to KPS.
"The agreement is central in the build up of our new business in the U.S. We are
beginning to see the results of the strategic decision we made when we opened
the factory in the U.S. last year," continues Bredesen.
For Kitron's factory in Johnstown, Pennsylvania the CROWS program alone is
expected to generate annual revenues of approximately NOK 60 million over the
next five years. Volume depends on needs and the annual budgetary procedure in
the United States, and might therefore be both lower and higher. In addition,
the agreement will give orders related to programs other than CROWS.
Kitron AS in Arendal has been providing electronics to Kongsberg Protech Systems
since the first weapon station was delivered in the 1990's. The new agreement
will ensure volume to Arendal for deliveries to markets other than the United
States.
"This is a lighthouse contract. The fact that we are now Kongsberg Protech's
main supplier confirms Kitron's competitiveness in Europe as well as in the
U.S.," says Bredesen.
For further information please contact:
Jørgen Bredesen, CEO of Kitron ASA, tel. +47 48 25 25 84 or e-mail
jorgen.bredesen(at)kitron.com
Dag Songedal, Managing Director of Kitron AS, tel. +47 91 38 64 68 or e-mail
dag.songedal(at)kitron.com
Kitron is one of Scandinavia's leading electronics manufacturing services
companies for the Defence, 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 2011 and has about 1,200 employees. www.kitron.com
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Kitron ASA via Thomson Reuters ONE
[HUG#1636081]
Unternehmensinformation / Kurzprofil:
Datum: 27.08.2012 - 08:16 Uhr
Sprache: Deutsch
News-ID 177610
Anzahl Zeichen: 3249
contact information:
Town:
Oslo
Kategorie:
Business News
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