(2009-06-09) 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: 
Roger Hovland, Sales and Marketing director of Kitron ASA, phone: (+47) 9208 7770, or e-mail: 
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