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 Tommy P. Storstein, Sales Director at Kitron ASA, tel. +47 93 66 99 09 or email Staffan Dahlström, CEO of HMS Industrial Network AB, tel. +46 35 172901 or email 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. 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. This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act) This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Kitron ASA via Thomson Reuters ONE [HUG#1677162]