Eltek announces renewal of contract with key customer in North America
Drammen, January 21th, 2014. Eltek today announced that it has renewed a frame
agreement for deliveries of power systems to a key customer in North America.
"The renewal of the frame agreement with one of our most important customers in
the North American market confirms our competitive edge. The contract opens
opportunities for further expansion of our business, including new high
efficiency products and solutions, with this customer.Â The revenue value could
be in the range of NOK 50 to 60 million per annum.Â The frame agreement will
allow continued deliveries to this customer for more than 2 years." says CEO in
Eltek Colin Howe.
North America represents an important market for Eltek. As a market with early
adoption of 4G/LTE and advanced development of the data center business, its
importance is expected to grow further. Â The announced contract represents a
strengthening of the base from which Eltek sees future growth in the market,
For more information, please contact:
CEO Colin Howe: +44 776 846 6446
CFO BjÃ¶rn WigstrÃ¶m:Â Â Â +47Â 905 31Â 304
About Eltek ASA:
Eltek is a strategic technology partner within power solutions. The Company
reported revenue of NOK 3.5 billion in 2012, and has approximately 2,500
employees and operations in almost 40 countries. The company focuses on power
electronics markets, where the company is one of the leaders in telecom power
and a growing force within industrial applications. Eltek also holds growth
opportunities within datacenters. Eltek is listed on Oslo Stock Exchange and
headquartered in Drammen, Norway.
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Source: Eltek ASA via GlobeNewswire