Kitron ASA

(2021-01-28) Kitron has received an order from Northrop Grumman for production of a sub-assembly for the F-35 fighter aircraft radar system developed by Northrop Grumman. The intermediate frequency (IF) receiver was awarded under a best value competition and covers production lot 15. The value of the order is NOK 10 million.

"This order is the first award under the long term supply agreement announced 31 March 2016 with a value of NOK 500 million over the expected lifetime of the program. This achievement was made possible due to the strong capabilities from the Kitron prototyping and development team, confirming that Kitron has the capacity to support complex high-level assemblies. To be qualified for this production lot, Kitron developed advanced test equipment. We expect the lot 15 production award is the first of many future lots to be manufactured at Kitron and that it positions us as a supplier for the Joint Strike Fighter program," said Hans Petter Thomassen, Managing Director of Kitron Norway.

The Lockheed Martin F-35 Lightning II is the world’s most advanced military aircraft and for over a decade, the U.S. and its allies have invested in developing this fifth-generation, international, multirole fighter aircraft that will serve as a cornerstone of global security in the 21st century.

Norway is one of the international partner countries participating in the F-35 program. Under the Manufacturing License Agreement between Kitron ASA and Northrop Grumman, Kitron will manufacture and repair several subassemblies for the F-35 Joint Strike Fighter.

For further information, please contact:
Peter Nilsson, President and CEO, tel. +47 948 40 850
Hans Petter Thomassen, Managing Director Kitron Norway, tel: +47 913 92 360
E-mail: investorrelations@kitron.com  

Kitron is a leading Scandinavian electronics manufacturing services company for the Defence/Aerospace, Energy/Telecoms, Industry, Medical devices and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, Poland, China and the United States. Kitron had revenues of about NOK 3.3 billion in 2019 and has about 1 700 employees. www.kitron.com 

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

 

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