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Norbit ASA ( (DE:4NK) ) has provided an announcement.
NORBIT ASA announced that its Product Innovation & Realization segment has secured orders worth approximately NOK 260 million from a contract manufacturing client in the defense and security sector. This development highlights the company’s strategic investments in increased capacity, positioning it to meet the growing demand for European-made technology amid the current geopolitical climate. The orders will be delivered starting immediately, with most scheduled for the second quarter of 2025, underscoring NORBIT’s readiness to scale operations and capitalize on market opportunities.
More about Norbit ASA
NORBIT ASA is a global provider of tailored technology solutions aimed at solving challenges and promoting sustainability through innovative solutions. The company operates in three business segments: Oceans, Connectivity, and Product Innovation & Realization. The Oceans segment focuses on maritime markets, Connectivity offers wireless solutions for identification, monitoring, and tracking, and the Product Innovation & Realization segment provides R&D services, proprietary products, and contract manufacturing. Headquartered in Trondheim, NORBIT has manufacturing facilities in Europe and North America, employs around 600 people, and maintains a worldwide sales and distribution network.
YTD Price Performance: 9.34%
Average Trading Volume: 519
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €589.4M
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