(2016-09-23) Kitron has received orders for Aidon RF communication modules with a value for Kitron of more than NOK 100 million. The orders will be fulfilled during the next three years and increases the current business scope with Aidon. Production will take place at Kitron's plant in Kaunas, Lithuania.
Aidon's open-architecture-based smart metering systems and new generation Energy Service Devices today serve more than 1.5 million metering points.
"This is a valuable opportunity to expand our business with a longtime partner, which is becoming a preferred supplier for energy utilities and service providers in the Nordic countries. We are looking forward to starting production towards the beginning of the next year," said Mindaugas Sestokas, Managing Director of Kitron Lithuania.
For further information, please contact:
Mindaugas Sestokas, Managing Director, Kitron Lithuania, tel. +370 37 400 174
Peter Nilsson, CEO of Kitron ASA, tel. +47 948 40 850
Kitron is one of Scandinavia's leading electronics manufacturing services companies for the Defence, Energy/Telecoms, Industry, Medical devices and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and the United States. Kitron had revenues of about NOK 1.95 billion in 2015 and has about 1 250 employees. www.kitron.com
Aidon OY is a growing European provider of smart energy metering devices and solutions and smart grid applications. The company's customer-driven, forward-thinking approach has made it a preferred supplier for energy companies and a valued partner for service providers. www.aidon.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kitron ASA via Globenewswire