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Bofors Missiles outsource Electronics Production

Bofors Missiles outsource Electronics Production The Saab Bofors Dynamics business unit, Bofors Missiles AB, and Combitech Electronics AB have signed a letter of intent regarding the outsourcing of the electronics production at Bofors Missiles in Karlskoga. Combitech Electronics is owned by Kitron ASA, a leading Norwegian concern that is active in the area of contract manufacturing of electronics. In electronics production there is at present an ongoing rapid structural change of the market. Through the procurement of Bofors Missiles electronics production, Kitron will increase its total volume of contract production in Sweden. In connection with Kitrons procurement the partners will now enter a long-term working agreement, involving 180 persons. Bofors Missiles will now concentrate its future investments on its core activities of development, final assembly and testing missiles at the same time as activities will be integrated with Saab Bofors Dynamics during the course of the year. Saab is Northern Europe's leading high technology company and operates within the defense and aerospace areas and offers leading-edge products and systems built on sophisticated information technology. Its business areas are Infomatics, Aerospace, Dynamics, Technical Support & Services, Space and Aviation Services. Kitron ASA had a turnover of MNOK 1200 in 1999. Combitech Electronics AB forms the Swedish base of the Kitron ASA Concern and for 1999 its turnover was MSEK 230. Further information Håkan Littorin, Vice President Bofors Missiles AB Tel +46 586 816 80 or mobile +46 70 534 96 10 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/05/12/20000512BIT00120/bit0001.doc http://www.bit.se/bitonline/2000/05/12/20000512BIT00120/bit0002.pdf