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[Press Release, April 17, 2007]
Kitron ASA considers relocating production
Kitron Flen AB is a specialized site for High Level Assembly with revenues in 2006 of SEK 91 million. In order to improve the financial result, Kitron is considering transferring the production to Kitron’s sites in Karlskoga and Jönkoping in Sweden, as well as Kaunas in Lithuania before the end of 2007. The company has entered into consultative negotiations with the employee unions before making a final assessment. Any restructuring costs will be calculated after the assessment has been completed.
If the relocation will be carried out, Kitron expects that all significant customer relationships will be retained and served from the other manufacturing sites. The total business volume is expected to remain about unchanged.
Kitron’s Swedish operation is expected to generate profitable growth and yield overall positive results for 2007.
17 April 2007
Kitron ASA
For further information please contact
Jørgen Bredesen, CEO, Kitron ASA, tel. +47 48 25 25 84
Erling Svela, CFO, Kitron ASA, tel. +47 40 62 10 40
Kitron is one of Scandinavia`s leading companies within development, industrialisation and production for the data/telecom, defence/marine, medical and other industries. The company is located in Norway, Sweden and Lithuania. Kitron had a turnover of about NOK 1,7 billion in 2006 and has 1,300 employees. See also www.kitron.com.
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