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Thursday 13 February, 2014

Eltek ASA

Eltek launches business transformation program

Eltek launches business transformation program

Drammen, 13th of February 2014 - Eltek today announces ONE Eltek - an ambitious strategic improvement program aimed at improved operational efficiency, customer satisfaction and ultimately improved margin.

"ONE Eltek is the largest business transformation program ever undertaken by the company.  It is a long term commitment and we need to be prepared to invest time and resources to ensure success. The whole management team stands firmly behind the program and we have established a dedicated program team to drive the implementation," says CEO Colin Howe.  

Running through 2014-17, the program focuses on harmonization of processes and smarter configuration of products. The main objectives are to improve the quality of product and services, speed up delivery, and align core and support processes to improve resource utilization and efficiency across the value chain.

ONE Eltek has a broad scope, covering the whole value chain through procurement, engineering, logistics, manufacturing and sales, as well as all support processes and IT systems. The initiative supports Eltek's strategic objectives of strengthening the undisputed technology leadership and become the most profitable company among its peers.

"The overall ambition of the ONE Eltek Program is to increase our competitiveness in the market place by taking quality to a new level and ensuring the best delivery performance in the industry. To achieve this we are focusing on streamlining our value chain to reduce variability and increase efficiency in our business processes," says Phil Young, Program Director for ONE Eltek.

Short-term, the main focus areas will be simplification of bid and quotation processes, improved utilization of CRM and other IT support systems, redefinition and optimization of components and building blocks for the standard system configurations. In the early phase, the geographical focus will be on the EMEA region, which accounts for more than 40 percent of overall revenues.

A project management group has been set up, led by Program Director Phil Young under the supervision of a steering group led by CEO Colin Howe.

For further information, please contact:

Program Director Phil Young, +44 7770 832595 - Mail: [email protected]

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

CFO Björn Wigström, +47 905 31 304 - Mail: [email protected]

About Eltek

Eltek is a strategic technology partner for 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 it is one of the leaders in telecom power and a growing force within industrial applications. Eltek is also pursuing growth opportunities within the datacenter market. Eltek is listed on Oslo Stock (ELT:Oslo) Exchange and headquartered in Drammen, Norway.

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Eltek ASA via Globenewswire


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