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NORBIT – Secures NOK 50 million On-Board Unit order from European customer

NORBIT ASA today announces that NORBIT ITS has received an order from an undisclosed European customer for delivery of On-Board Units for electronic toll collection.  The value of the order is approximately NOK 50 million and is scheduled for delivery in second half of 2021.

“This is a fantastic start on a new business to business cooperation with a customer we think are very well positioned in its market. The size of this first order speaks for itself when it comes to the long-term potential of this cooperation”, 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, with manufacturing facilities in Selbu and Røros, Norway and 15 offices and subsidiaries around the world.

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 Chief Financial Officer, Per Kristian Reppe, at 19 April 2021 08:00 CET.