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Thursday 12 September, 2013

Eltek ASA

Eltek ASA: Eltek signs major data center contract

Eltek ASA: Eltek signs major data center contract

Drammen, 12 September 2013: Eltek today announces a major contract for data centers in the Pacific region. The contract will generate revenues of NOK 16 million for the first of three phases.

-The contract is a strategic milestone. We have indicated the potential for our extremely reliable power conversion and back up technology in data centers, and this is a major step on the way, says Björn Wigström, CFO of Eltek.

Delivery will start in the first quarter of 2014, with the completion of phase one within July 2014. The following phases are expected to commence shortly thereafter.

Eltek was chosen due to its industry leadership in power systems, having delivered more than 800,000 high-efficiency modules in various industries. Given the large and growing power consumption by data centers, flexibility, efficiency and reliability in all areas are critical to optimizing costs.

Data centers are rapidly being built and expanded globally. Traditionally data centers have used centralized AC UPS as their primary power backup, but Eltek using its standard modular approach, have developed a backup power system configuration that provides similar functionality as a UPS, but with significant technical and performance improvements. This new system topology fits very well with Eltek's existing products and designs, and heralds an exciting development in our data center strategy. Our solution brings better reliability, availability and the opportunity to improve the overall efficiency of data centers, says Wigström.

For further information, please contact:

Björn Wigström, CFO: email: [email protected] or mobile: +47 905 31 304

Morten Schøyen, CMO: email: [email protected] or mobile: +47 915 17 452

About Eltek

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 solar power, e-vehicles, and datacenters. Eltek is listed on Oslo Stock Exchange and headquartered in Drammen, Norway.

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

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Eltek ASA via Thomson Reuters ONE


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