(2010-03-12) Kitron's subsidiary Kitron AB in Karlskoga, Sweden is facing
operational challenges in the 1st quarter. This is related to margin slippages
and overcapacity.
Due to these challenges Kitron expects to book about NOK 15 million in losses
for Karlskoga in the first quarter, whereof NOK 8.5 million are provisions for
restructuring costs. Firm measures are taken to turn around Kitron AB and it is
expected that performance will improve during the rest of 2010.
For further information, please contact:
Jørgen Bredesen, CEO of Kitron ASA, phone: (+47) 4825 2584, or e-mail:
jorgen.bredesen@kitron.com
Björn Wigström, CFO of Kitron ASA, phone: (+47) 9053 1304, or e-mail:
bjorn.wigstrom@kitron.com
Kitron is one of Scandinavia's leading companies in development,
industrialisation and manufacturing of electronics for the Data/Telecoms,
Defence, Energy, Industry, Medical equipment and Offshore/Maritime sectors. The
company is located in Norway, Sweden, Lithuania, Germany and China. Kitron had a
revenue of about NOK 1.7 billion in 2009 and has about 1,100
employees.www.kitron.com
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1393507]
