Top-Thema

14:45 Uhr +0,17%
Daimler sieht noch Potenzial in China - Weltweit weiter im Aufwind

Northrop Grumman Awards Contracts to Kitron

Donnerstag, 24.11.2016 08:00

(2016-11-24) Kitron has been selected by Northrop Grumman Corporation (NYSE: NOC) as an international source for manufacturing of a sub-assembly for the F-35 Joint Strike Fighter. The potential value for Kitron is more than NOK 1 billion over the lifetime of the agreement, which runs until 2036.

The sub-assembly, called the Dual Channel Transmit/Receive (DCTR) module, is part of the CNI (Communications, Navigation and Identification) system developed by Northrop Grumman. It was won by Kitron in a best value competition.

The contract covers the initial steps of transferring technical knowhow and manufacturing prototypes for testing and validation. This process will be on-going through 2017. Kitron will then be awarded production contracts with deliveries starting in 2018.

"The F-35 program is crucial for Norway, adding significant defense capabilities and important for Kitron and the region since the long-term program secures substantial employment. Winning this type of contract reflects Kitron's position as a competitive and trusted partner," said Hans Petter Thomassen, Managing Director of Kitron Norway.

In September 2015 Kitron announced a separate agreement to supply different subassembly electronic modules for F-35 aircraft avionics; that production continues.

Northrop Grumman's integrated CNI suite provides F-35 pilots with the capability of more than 27 avionics functions including voice and data communication. The CNI design uses advanced software-defined radio technology that allows the simultaneous operation of multiple critical functions while greatly reducing size, weight and power demands on the advanced fighter aircraft.

Norway is one of the international partner countries participating in the F-35 program. Under a manufacturing license agreement between Kitron and Northrop Grumman, Kitron will manufacture sub-assemblies for the F-35 Joint Strike Fighter.

The Lockheed Martin (NYSE: LMT) F-35 Lightning II is the world's most advanced military aircraft, combining advanced stealth with fighter speed and agility, advanced mission systems, fully fused sensor information, network-enabled operations and cutting-edge sustainment.

For further information, please contact:
Peter Nilsson, CEO of Kitron ASA, tel. +47 94 84 08 50
Hans Petter Thomassen, Managing Director of Kitron Norway, tel. +47 91 39 23 60
E-mail: investorrelations@kitron.com

Kitron is one of Scandinavia's leading electronic manufacturing services companies for the Data/Telecoms, Defense, Energy, Industry, Medical devices and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and the United States. Kitron had revenue of about NOK 1.95 billion in 2015 and has about 1,250 employees.
www.kitron.com 

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
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