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NORBIT – Secures NOK 35 million order from repeat blue-chip customer

Written by Customer Service on . Posted in Public Companies.

Trondheim, 21 December 2021: NORBIT today announces that NORBIT ITS has received an order from an existing undisclosed European customer for delivery of enforcement modules to satellite-based tolling systems. The order has a value of more than NOK 35 million and is scheduled for delivery over the next 15 months from NORBIT’s fully automated production line at Røros.

Enforcement modules are one of several products based on the company’s dedicated short-range communication (DSRC) technology which is delivered from ITS, a subsegment of NORBIT Connectivity.

“We are delighted to receive an additional order from a long-term customer. This proves the attractiveness of NORBIT´s tailored enforcement modules customized for integration into satellite-based tolling On-Board Units,” says Per Jørgen Weisethaunet, CEO of NORBIT.

For further queries, please contact:
Per Jørgen Weisethaunet, CEO, +47 959 62 915
Per Kristian Reppe, CFO, +47 900 33 203

About NORBIT
NORBIT is a global provider of tailored technology to selected niches, solving challenges through innovative solutions, in line with its mission to Explore More. The company is structured in three business segments to address its key markets; Oceans, Connectivity and Product Innovation & Realization (PIR). The Oceans segment delivers tailored technology solutions to global maritime markets. The Connectivity segment encompasses NORBIT’s technology within low power wireless solutions both related to electronic vehicle identification for tolling and tachograph enforcement, together with a new vertical comprising of the recently acquired Hungarian software solutions provider iData, as well as NORBIT’s initiatives within tailored IoT in selected niche applications. The PIR segment offers R&D services, proprietary products and contract manufacturing to key customers.

NORBIT is headquartered in Trondheim with manufacturing in Norway, has around 400 employees and a worldwide sales and distribution platform.

For more information: www.norbit.com

The information is such that NORBIT is required to disclose in accordance with the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. The information was submitted for publication by Elise Heidenreich, Investor Relations at NORBIT ASA, on 21 December 2021 at 07:30 CET.

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