Update: Restructuring of Kitron Sweden

During the fourth quarter Kitron decided to start the process to significantly downsize or close down the Karlskoga site (Sweden). The move followed the decision by the company's single largest customer to transfer manufacturing to Kitron’s site in Ningbo, China and was also influenced by a weaker outlook for the defence segment. 'Kitron’s assessment is that the future does not provide enough financial foundation to continue the operations at the site', the EMS-provider states in their annual report. Negotiations with the local union will continue and Kitron aims to be finished within the first quarter 2012.