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Kitron Officially Opens Kilsund FacilityJune 16, 2016 | Kitron
Estimated reading time: Less than a minute
Kitron ASA has officially opened its upgraded facility at Kilsund in Arendal, Norway.
Over the past months, Kitron's operation in Arendal has been moved from a leased facility at Hisøy to the Kilsund plant, which is owned by Kitron.
"This move means we are returning to our roots. Kilsund was the birthplace of Kitron in the 1960s, and this was our main production facility until 2005," said Hans Petter Thomassen, managing director of Kitron Norway.
Kitron has invested close to NOK 50 million in upgrading the facility and equipment at Kilsund.
"This brand new facility is state-of-the art when it comes to technology and work environment. It is a strong commitment to the local community, but foremost it will strengthen our competitiveness from Norway. An optimized facility will enable us to improve efficiency and ensure that the Arendal operation remains a key part of the increasingly international Kitron group, not least within the Defence and Aerospace market sector," Thomassen added.
BRC Solar GmbH has chosen Kitron to produce the Power Optimizer, an innovative new product that improves the performance of solar panels.
Northrop Grumman Corporation has awarded Kitron a sub-contract for production of AN/ASQ-242 Integrated Communications, Navigation, and Identification (CNI) modules for the F-35 Lightning II-program. Deliveries will secure a backlog into 2025 and have a total value of more than USD 13 million.
Reference is made to the stock exchange announcement from Kitron ASA on 1 June 2023 regarding issuance of 526,081 new shares under the Company's share incentive program.
Kitron publishes its annual financial statements for 2022. Compared to the fourth quarter 2022 report, there are changes to cash flow classifications. Operating cash flow is increased from NOK 116.3 million to NOK 160.3 million.
Kitron has received an order with a value of more than NOK 180 million from Kongsberg Defence & Aerospace (KONGSBERG).