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© artography-dreamstime.com Electronics Production | December 13, 2013

Kitron scraps plans for distribution centre

Kitron has over the last year been in a process to establish the distribution centre. However, the project has proved to be costlier and more complex than originally assumed.
The company has now decided to terminate the project, partly to avoid increased operating costs going forward.

The project was ment to provide the opportunity for cost savings to be made, something that Kitron will have to take other measures in order to achieve.

The termination will lead to a charge in the fourth quarter totalling about NOK 9 million (approx. USD 1.45 million) in order to cover incurred costs and incurred liabilities.

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July 18 2018 5:55 pm V10.0.0-1