Kitron signs a contract with HMS Industrial Networks worth NOK 100 million
HMS Industrial Network AB has selected Kitron ASA as electronics manufacturing
partner for their industrial network products.
The duration of the agreement is three years and the scope of the contract is
delivery of Electronics Manufacturing Services (EMS) for HMS' Anybus® and
netbiter® products.
"Kitron's expertise within EMS services including PCBAs, Box Build and High
Level Assembly as well as their high ambition for world class quality, has been
important for us when selecting a new partner," says Staffan Dahlström CEO of
HMS Industrial Network AB.
HMS is a world leading manufacturer of industrial communication equipment. The
company is listed on the Stockholm Stock Exchange and headquartered in Halmstad,
Sweden.
"Kitron is aiming to do business with the major players within our defined
segments. HMS Industrial Network is considered to be a global leading company
within communication technology for automation systems. They have had a
fantastic growth and a sound business philosophy and there are several
opportunities between our two companies beyond the contract we just have signed.
This cooperation will strengthen Kitron's position as one of Scandinavia's
leading EMS companies." says Jørgen Bredesen, CEO of Kitron ASA.
HMS has 350 employees, revenues of more than Euro 50 million, and has had a
historical growth rate of more than 20% per year.
The manufacturing will take place at Kitron's factory in Lithuania.
For further information please contact:
Jørgen Bredesen, CEO of Kitron ASA, tel. +47 48 25 25 84 or email
jorgen.bredesen@kitron.com
Tommy P. Storstein, Sales Director at Kitron ASA, tel. +47 93 66 99 09 or email
tommy.storstein@kitron.com
Staffan Dahlström, CEO of HMS Industrial Network AB, tel. +46 35 172901 or email
std@hms.se
Kitron is one of Scandinavia's leading electronics manufacturing services
companies for the Defence, Energy/Telecoms, Industry, Medical equipment and
Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania,
Germany, China and the United States. Kitron had revenues of about NOK 1.7
billion in 2011 and has about 1,200 employees. http://kitron.com/
HMS Networks is a global leading supplier of communication technology for
automation systems. HMS is listed at the NASDAQ-OMX Nordic stock exchange in
Stockholm under category Small Cap, Information
Technology.http://investors.hms.se
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
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Source: Kitron ASA via Thomson Reuters ONE
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