Kitron completes acquisition of BB Electronics
10 Janvier 2022 - 2:03PM
Kitron completes acquisition of BB Electronics
(2022-01-10) Kitron has completed the acquisition of 100 percent
of the shares of BB Electronics A/S, which was announced on 20
December 2021.
"This transaction fits perfectly with Kitron's growth strategy.
BB Electronics is a profitable company, which adds attractive
geographies to the Kitron group and is expected to create
significant value for Kitron shareholders. Its well-run operations
will continue with little change, but we will immediately identify
potential cost savings from coordinating purchases," said Peter
Nilsson, President and CEO of Kitron.
The acquisition took place in accordance with the transaction
agreement. BB Electronics will be consolidated into Kitron's
financial reporting as of January 2022.
BB Electronics has about 750 employees in Denmark, the Czech
Republic and China and had revenues of about DKK 1,000 million
(approximately NOK 1,350 million) in 2021.
For further information, please contact:Peter Nilsson, President
and CEO, tel. +47 94 84 08 50Cathrin Nylander, CFO, tel: +47 900 43
284E-mail: investorrelations@kitron.com
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act.
About Kitron
Kitron is a leading Scandinavian electronics manufacturing
services company for the Connectivity, Electrification, Industry,
Medical devices and Defence/Aerospace sectors. The group is located
in Norway, Sweden, Denmark, Lithuania, Germany, Poland, the Czech
Republic, China and the United States. Included the acquisition of
BB Electronics in January 2022, Kitron has about 2 500 employees,
and pro forma revenues were about NOK 5 billion in 2021.
www.kitron.com
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