Kitron signs frame agreement with SAAB AB, business unit Avionics Systems
(Thomson Reuters ONE) -
(2015-06-11) Kitron's subsidiary Kitron AB in Jönköping, Sweden, has signed a
strategically important long-term frame agreement with Saab AB (Business Unit
Avionics Systems) for military avionics and aeronautic electronic equipment.
The frame agreement has potential order value of more than 400 million NOK over
20 years.
The equipment to be supplied by Kitron is to be incorporated by Saab in current
and future avionics contracts globally. Kitron will supply assembled electronic
circuit boards for military and civil products, and production will be done in
Jönköping.
Ronny Nykvist, Vice President and Head of Avionics Systems at Saab AB, said:
"It is with great satisfaction that we award this long-term agreement to Kitron.
Kitron AB in Jönköping has performed very well during the prototype and new
product introduction (NPI) phases. Saab Avionics Systems' business within high-
integrity equipment and systems for flight and mission critical applications for
aircraft and helicopters is currently progressing well. Kitron AB in Jönköping
has provided us with consistent quality, high level of competence within
production, assembly and testing, and not least delivery precision. This
agreement is a very good example of how the Swedish industry can cooperate and
win global defence and civil aeronautics orders in the face of tough
international competition."
Thomas Löfgren, Managing Director of Kitron AB, said:
"We are extremely pleased that Saab has chosen Kitron for this long-term
agreement, and we are looking forward to supply Saab with further highly complex
electronic products for its avionics systems based on the mutual cooperation so
far on prototypes and NPI services. In recent years we have enhanced our
competence and made substantial investments in order to meet the requirements of
the defence and aerospace market sector. This is an important sector to us, and
we are thrilled that Kitron in Sweden is able to partner with Saab, a major
force within the sector."
For further information please contact:
Peter Nilsson, CEO Kitron ASA, tel. + 47 948 40 850 or e-mail
peter.nilsson(at)kitron.com
Thomas Löfgren, Managing Director Kitron AB, tel. +46 708 89 53 26 or e-mail
thomas.lofgren(at)kitron.com
Kitron is one of Scandinavia's leading electronics manufacturing services
companies for the Defence/Aerospace, 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 1.75 billion in 2014 and has about 1 200 employees. www.kitron.com
This information is subject of the disclosure requirements pursuant to section
5-12 of the 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#1927790]
Unternehmensinformation / Kurzprofil:
Datum: 11.06.2015 - 14:01 Uhr
Sprache: Deutsch
News-ID 399829
Anzahl Zeichen: 3567
contact information:
Town:
Oslo
Kategorie:
Business News
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