Kitron invests in its Arendal operations

The Hisøy plant is a leased facility. The Kilsund plant is owned by Kitron and was Kitron's main production facility from 1985 until 2005. Kitron will make investments estimated at NOK 45 million (roughly EUR 4.95 million) in order to upgrade and expand the Kilsund facility and increase efficiency of the Arendal operations. "The move to Kilsund is based on a sound business case. The investment will quickly pay off because of substantially lower costs. The future operation will be smaller, but also more robust and profitable," said Peter Nilsson, Chief Executive Officer of Kitron ASA. "The investment is an important step toward adapting the Kitron Arendal facility to meet the future product and customer requirements, especially from the defence industry," said Dag Songedal, Managing Director, Kitron AS. "Kitron is making a strong commitment to the local community by investing in the Kilsund plant," said Nilsson. The move is expected to take place early in 2016.