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Electronics Production | December 18, 2009

Kitron acquires German EMS company

On December 17, 2009 , Norwegian EMS-provider Kitron has signed a share purchase agreement to acquire 100% of the shares in Veru Electronic GmbH at the price of €700.000,- on a debt free basis.
The closing of the deal is subject to reaching an agreement about the debt financing of the company. The intention is to close the deal early 2010 and make Veru a fully owned German subsidiary of Kitron ASA. “It is part of Kitron ASA’s strategy to enter into new geographical markets”, says Roger Hovland - Corporate Vice President of Kitron ASA.

Veru Electronic GmbH is a German EMS company established in 1996 with about 20 employees and a turnover of 1.400.000 € (2008).

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