Data/Telecoms client lost
(Thomson Reuters ONE) -
(2010-09-30) Kitron ASA's subsidiary Kitron AS in Arendel, Norway, has received
notice of termination from one of its Data/Telecoms clients. The production will
continue until the end of March 2011. The effect on the annual turnover is
estimated to NOK 100 million.
"While we regret the decision by this particular client we are optimistic about
the market trend in general and that we will be able to offset this loss with
increased demand from other clients. However, in the future more of Kitron's
production will take place at our sites in Lithuania and China and it is
therefore likely that this loss will lead to personnel reductions at our Arendal
site. We estimate that up to 60 employees could be affected but we need some
time to analyse the consequences in detail before concluding on an exact number.
Based on our experience we believe there will be no significant restructuring
costs related to the downsizing in Arendal - says Jørgen Bredesen CEO of
Kitron."
For further information please contact:
Jørgen Bredesen, CEO of Kitron ASA, phone: (+47) 4825 2584, 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 companies in development,
industrialisation and manufacturing of electronics for the Data/Telecoms,
Defence, Energy, Industry, Medical equipment and Offshore/Marine sectors. The
company is located in Norway, Sweden, Lithuania, Germany and China. Kitron had a
revenue of about NOK 1.7 billion in 2009 and has about 1,100 employees.
www.kitron.com
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1447988]
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Source: Kitron ASA via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 30.09.2010 - 13:58 Uhr
Sprache: Deutsch
News-ID 43558
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contact information:
Town:
Oslo
Kategorie:
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