Kitron ASA wins NOK60m production order from Q-Free ASA

Nordic Business Report, Sept 19, 2007

NORDIC BUSINESS REPORT-19 September 2007-Kitron ASA wins NOK60m production order from Q-Free ASA(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com

Norwegian electronics developer and manufacturer Kitron ASA said on Wednesday (19 September) that its subsidiary Kitron Microelectronics AS has landed a NOK60m production order from the Norwegian road toll systems supplier Q-Free ASA.

The contract covers the production of toll road transponders for delivery over the next 12 months.

"Q-Free has been one of our major customers for many years, and we see the new order as an acknowledgement of our quality and capability and a natural way to further expansion of this part of our business," commented Leif Tore Smedas, vice president of Kitron and managing director of Kitron Microelectronics.

Kitron, headquartered in Lysaker, Norway, is a leading Scandinavian high-tech development, industrialisation and production company. The company has 1,300 employees in Norway, Sweden and Lithuania, and reported a turnover of NOK1.7bn in 2006. Kitron is listed on the Oslo Stock Exchange and traded under the ticker KIT.

One British pound (GBP) is worth approximately 11.35 Norwegian kroner (NOK).

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