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Electronics Production | September 10, 2007

Kitron completes acquisition of EDC

On 28 June 2007, Kitron ASA and EDC i Munkfors AB headquartered in Sweden, entered into an agreement whereby Kitron would acquire inter alia EDC's subsidiary EDC Elsis UAB in Kaunas, Lithuania.
The transaction has been completed and was effective as of 1 September 2007. EDC Elsis UAB, which will be renamed UAB Kitron Elsis currently employs about 40 people and operates a manufacturing facility of about 2,000 sqm.

Kitron plans to increase the manufacturing capacity at Kitron Elsis during the fourth quarter of 2007. The Kitron Elsis operation will become a part of the operation in UAB Kitron, which has about 310 employees in its nearby factory. By this acquisition, Kitron expands its customer portfolio and also obtains additional capacity to serve current customers' growth requirements.
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January 17 2019 2:20 pm V11.11.0-1