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NORBIT – Secures NOK 27 million On-Board Unit order from Fremtind Service

NORBIT today announces that NORBIT ITS has received an order from Fremtind Service for delivery of On-Board Units (OBUs) for electronic toll collection in the Norwegian market. The value of the order is approximately NOK 27 million and it is scheduled for delivery over the next 24 months.

This is an important first step in the strategic cooperation with Fremtind Service, which is Norway’s largest OBU issuer and a leading player in the mobility market. We look forward to continuing the collaboration and developing innovative solutions together”, 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 ASA

NORBIT is a global provider of tailored technology to carefully selected niches. The company’s business is structured to address its key markets; Oceans is offering tailored technology solutions to global maritime markets, Intelligent Traffic Systems (ITS) is offering connectivity solutions for vehicle identification and tracking, and Product Innovation and Realization (PIR) is offering R&D services and contract manufacturing to key customers.

NORBIT is headquartered in Trondheim, Norway. The company has manufacturing facilities in Selbu and Røros, Norway, and 15 offices and subsidiaries around the world.

For more information: www.norbit.com

About Fremtind Service AS

Fremtind Service is Norway’s largest AutoPASS On-Board Unit issuer with more than 750 000 customers.  Fremtind Service is a subsidiary of the insurance company Fremtind Forsikring AS. Fremtind Forsikring is 65 per cent owned by Sparebank 1 Gruppen and 35 per cent by DNB. Fremtind Service will through partnerships and smart use of technology contribute to position the Fremtind Group as a leading player in the mobility market.

For more information: www.fremtindservice.no

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, IR at 6 July 2021 07:30 CET.