Published: 15:38 09.06.2009 GMT+2 /HUGIN /Source: Kitron ASA /OSE: KIT /ISIN: NO0003072209
Long term cooperation agreement with Aidon
Kitron ASA has today entered into a long term Cooperation Agreement with Aidon Ltd., whereas Kitron's subsidiary UAB Kitron in Lithuania today entered into an Electronic Manufacturing Services Agreement with the same Company. Both agreements are related to industrialisation and manufacturing of Aidon's AMR (Automatic Meter Reading) products. Kitron's services can also be extended into product development-, engineering-, sourcing- and logistic services, based on Aidon's needs.
Aidon is a leading company specialising in energy metering and AMR-systems. At the moment, the Company operates in Sweden, Norway and Finland. Aidon has profound experience in the energy markets and remote reading systems market, which due to governmental regulations is estimated to grow considerably in the 3-5 years to come.
Aidon`s new generation of AMM (Automatic Measurement Management) systems has obtained a strong market position and is an established technique for remote measurement in the Nordic countries.
"Aidon expects strong growth in sales of its products over the next few years. Our Electronic Manufacturing Partner plays an important role in taking Aidon's products to the market, and we are happy to enter into a strategic agreement with Kitron which can provide us with an Aidon-designed manufacturing setup and additional competencies that Aidon requires", says Timo Chrons, Managing Director of Aidon Ltd.
"We have years of experience within development, industrialisation and manufacturing of data- and telecommunication equipment, also within the AMR segment and we are pleased to enter into agreements with Aidon and become a part of their market expansion", says CEO Jørgen Bredesen of Kitron ASA.
In 2009 Kitron expects operating revenues of NOK 25 million, increasing to approximately NOK 120 million in 2010 from these agreements. Industrialisation and manufacturing of Aidon's products are supplied from UAB Kitron in Lithuania but additional services can also be offered from other Kitron operations in Sweden, Norway or China based on competencies required.
9 June 2009
Kitron ASA
For further information, please contact:
Jørgen Bredesen, CEO of Kitron ASA, phone: (+47) 4825 2584, or e-mail: jorgen.bredesen@kitron.com
Roger Hovland, Sales and Marketing director of Kitron ASA, phone: (+47) 9208 7770, or e-mail: roger.hovland@kitron.com
Kitron is one of Scandinavia's leading companies in development, industrialisation and manufacturing of electronics for the Data/Telecom, Defence/Offshore, Medical equipment and Industry sectors. The company is located in Norway, Sweden and Lithuania. Kitron had a revenue of about NOK 2.3 billion in 2008 and has about 1,400 employees. www.kitron.com
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Long term cooperation agreement with Aidon
Kitron ASA has today entered into a long term Cooperation Agreement with Aidon Ltd., whereas Kitron's subsidiary UAB Kitron in Lithuania today entered into an Electronic Manufacturing Services Agreement with the same Company. Both agreements are related to industrialisation and manufacturing of Aidon's AMR (Automatic Meter Reading) products. Kitron's services can also be extended into product development-, engineering-, sourcing- and logistic services, based on Aidon's needs.
Aidon is a leading company specialising in energy metering and AMR-systems. At the moment, the Company operates in Sweden, Norway and Finland. Aidon has profound experience in the energy markets and remote reading systems market, which due to governmental regulations is estimated to grow considerably in the 3-5 years to come.
Aidon`s new generation of AMM (Automatic Measurement Management) systems has obtained a strong market position and is an established technique for remote measurement in the Nordic countries.
"Aidon expects strong growth in sales of its products over the next few years. Our Electronic Manufacturing Partner plays an important role in taking Aidon's products to the market, and we are happy to enter into a strategic agreement with Kitron which can provide us with an Aidon-designed manufacturing setup and additional competencies that Aidon requires", says Timo Chrons, Managing Director of Aidon Ltd.
"We have years of experience within development, industrialisation and manufacturing of data- and telecommunication equipment, also within the AMR segment and we are pleased to enter into agreements with Aidon and become a part of their market expansion", says CEO Jørgen Bredesen of Kitron ASA.
In 2009 Kitron expects operating revenues of NOK 25 million, increasing to approximately NOK 120 million in 2010 from these agreements. Industrialisation and manufacturing of Aidon's products are supplied from UAB Kitron in Lithuania but additional services can also be offered from other Kitron operations in Sweden, Norway or China based on competencies required.
9 June 2009
Kitron ASA
For further information, please contact:
Jørgen Bredesen, CEO of Kitron ASA, phone: (+47) 4825 2584, or e-mail: jorgen.bredesen@kitron.com
Roger Hovland, Sales and Marketing director of Kitron ASA, phone: (+47) 9208 7770, or e-mail: roger.hovland@kitron.com
Kitron is one of Scandinavia's leading companies in development, industrialisation and manufacturing of electronics for the Data/Telecom, Defence/Offshore, Medical equipment and Industry sectors. The company is located in Norway, Sweden and Lithuania. Kitron had a revenue of about NOK 2.3 billion in 2008 and has about 1,400 employees. www.kitron.com
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9/6 2009 17:54 fcras 0
13246 Published: 14:03 09.06.2009 GMT+2 /HUGIN /Source: Kitron ASA /OSE: KIT /ISIN: NO0003072209
Salg av Kitron Microelectronics AS
Kitron ASA har i dag inngått en avtale med noen av de ansatte og Norbit AS om å selge mikroelektronikk-virksomheten på Røros. Kitron Microelectronics AS har ca 50 ansatte og hadde en omsetning på 128 millioner kroner i 2008. Transaksjonen ventes å være gjennomført innen utgangen av juni 2009, forutsatt at finansieringen går i orden.
Kitrons konsernsjef Jørgen Bredesen uttaler følgende om salget. "Vi er svært fornøyd med avtalen som er oppnådd, og spesielt at vi har vært i stand til å sikre fortsatt drift og sysselsetting for de ansatte på Røros. Vi trekker oss ut av mikroelektronikk-bransjen fordi vi har konkludert med at dette ikke er en kjernevirksomhet for Kitron fremover og fordi vi ønsker å konsentrere produksjonen i Norge til vår virksomhet i Arendal. Med Norbit AS som en strategisk partner og betydelig aksjonær er vi overbevist om at virksomheten på Røros vil lykkes utenfor Kitron.
Kitron forventer å bokføre et tap før skatt på 17 millioner kroner i andre kvartal 2009 i forbindelse med salget. Kitron ASA forventer ingen vesentlig negativ innvirkning på likviditeten som følge av salget.
9. juni 2009
Kitron ASA
For ytterligere informasjon, vennligst kontakt:
Jørgen Bredesen, konsernsjef i Kitron ASA, telefon 4825 2584, eller e-post: jorgen.bredesen@kitron.com
Björn Wigström, økonomidirektør i Kitron ASA, telefon: 9053 1304, eller e-post: bjorn.wigstrom@kitron.com
Kitron er et av Skandinavias ledende foretak innen utvikling, industrialisering og produksjon av elektronikk for bransjene Data/Telekom, Forsvar/Marine, Medsinsk utstyr og Industri. Konsernet har virksomhet i Norge, Sverige og Litauen. Kitron omsatte for om lag 2,3 milliarder kroner i 2008 og har om lag 1.400 ansatte. www.kitron.com
Salg av Kitron Microelectronics AS
Kitron ASA har i dag inngått en avtale med noen av de ansatte og Norbit AS om å selge mikroelektronikk-virksomheten på Røros. Kitron Microelectronics AS har ca 50 ansatte og hadde en omsetning på 128 millioner kroner i 2008. Transaksjonen ventes å være gjennomført innen utgangen av juni 2009, forutsatt at finansieringen går i orden.
Kitrons konsernsjef Jørgen Bredesen uttaler følgende om salget. "Vi er svært fornøyd med avtalen som er oppnådd, og spesielt at vi har vært i stand til å sikre fortsatt drift og sysselsetting for de ansatte på Røros. Vi trekker oss ut av mikroelektronikk-bransjen fordi vi har konkludert med at dette ikke er en kjernevirksomhet for Kitron fremover og fordi vi ønsker å konsentrere produksjonen i Norge til vår virksomhet i Arendal. Med Norbit AS som en strategisk partner og betydelig aksjonær er vi overbevist om at virksomheten på Røros vil lykkes utenfor Kitron.
Kitron forventer å bokføre et tap før skatt på 17 millioner kroner i andre kvartal 2009 i forbindelse med salget. Kitron ASA forventer ingen vesentlig negativ innvirkning på likviditeten som følge av salget.
9. juni 2009
Kitron ASA
For ytterligere informasjon, vennligst kontakt:
Jørgen Bredesen, konsernsjef i Kitron ASA, telefon 4825 2584, eller e-post: jorgen.bredesen@kitron.com
Björn Wigström, økonomidirektør i Kitron ASA, telefon: 9053 1304, eller e-post: bjorn.wigstrom@kitron.com
Kitron er et av Skandinavias ledende foretak innen utvikling, industrialisering og produksjon av elektronikk for bransjene Data/Telekom, Forsvar/Marine, Medsinsk utstyr og Industri. Konsernet har virksomhet i Norge, Sverige og Litauen. Kitron omsatte for om lag 2,3 milliarder kroner i 2008 og har om lag 1.400 ansatte. www.kitron.com
