Eltek ASA

Eltek awarded major telecom contract in APAC

Eltek awarded major telecom contract in APAC

Drammen, September 10, 2014. Eltek has been awarded a major contract for power systems by a leading telecom operator in the APAC region.

The total value of the contract is estimated to approximately NOK 175 million based on the requirements specified in the contract. Deliveries will start immediately and continue for three years or until the value is reached.

The contract covers supply of high efficiency products, solutions and services for transmission and radio access in their mobile networks in Singapore and Australia.

"This contract is a good example of the customer loyalty Eltek has built. This operator has been a major customer of Eltek for many years, and this award proves the appreciation of Eltek's total offering, including leading technology and excellent customer service and support," said Colin Howe, CEO of Eltek.

Eltek is the world-leading supplier of energy efficient power systems for the telecom industry, and APAC is an important market for Eltek, representing close to 30 percent of group revenue.

For further information:

Colin Howe, CEO
+44 776 846 6446
[email protected]

Morten Schøyen, Chief Marketing Officer
+47 3220 3466
[email protected]

About Eltek
Eltek is a strategic technology partner for power solutions. The company reported revenue of NOK 3.7 billion in 2013, and has approximately 2,400 employees and operations in almost 40 countries. The company focuses on power electronics markets, where it is one of the leaders in telecom power and a growing force within industrial applications. Eltek is also pursuing growth opportunities within the data center market. Eltek is listed on Oslo Stock (ELT:Oslo) Exchange and headquartered in Drammen, Norway. http://www.eltek.com

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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Source: Eltek ASA via Globenewswire