BILLINGSTAD, NORWAY -- Kongsberg Gruppen sold all its 33.4 million shares in Kitron, making it the second major investor to shed its holdings in the EMS firm.

Kongsberg's holdings made up 19% of Kitron's outstanding stock.

In September, Sievi Capital shed its 33% stake in the company for EUR 32 million ($36 million). Sievi had held some 57 million shares of the company since 2010.

 Kongsberg is also one of Kitron's largest customers, and Kitron's vice chairman is a former CFO at the defense and aerospace giant.