Kitron invests in its Arendal operations
(Thomson Reuters ONE) -
(2014-12-12) Kitron ASA's subsidiary Kitron AS will move its operations from
Hisøy to Kilsund. Both locations are in Arendal, Norway.
The Hisøy plant is a leased facility. The Kilsund plant is owned by Kitron and
was Kitron's main production facility from 1985 until 2005.
Kitron will make investments estimated at NOK 45 million in order to upgrade and
expand the Kilsund facility and increase efficiency of the Arendal operations.
"The move to Kilsund is based on a sound business case. The investment will
quickly pay off because of substantially lower costs. The future operation will
be smaller, but also more robust and profitable," said Peter Nilsson, Chief
Executive Officer of Kitron ASA.
"The investment is an important step toward adapting the Kitron Arendal facility
to meet the future product and customer requirements, especially from the
defence industry," said Dag Songedal, Managing Director, Kitron AS.
"Kitron is making a strong commitment to the local community by investing in the
Kilsund plant," said Nilsson.
The move is expected to take place early in 2016.
One-off costs relating to the move are expected to be NOK 7 million and will be
charged in the fourth quarter of 2014.
For further information please contact:
Peter Nilsson, CEO, tel. +47 94 84 08 50 or e-mail peter.nilsson(at)kitron.com
Dag Songedal, Managing Director, Kitron AS, tel. +47 91 38 64 68 or e-mail
dag.songedal(at)kitron.com
Cathrin Nylander, CFO, tel. +47 900 43 284 or e-mail cathrin.nylander(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 1.6
billion in 2013 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 GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#1879393]
Unternehmensinformation / Kurzprofil:
Datum: 12.12.2014 - 08:30 Uhr
Sprache: Deutsch
News-ID 359060
Anzahl Zeichen: 2769
contact information:
Town:
Oslo
Kategorie:
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