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Monday 15 September, 2014

Eltek ASA

Eltek signs railway contract in Africa

Eltek signs railway contract in Africa

(Drammen, September 15, 2014): Eltek has signed a significant railway contract in Africa with a leading global infrastructure supplier.

The contract covers powering signaling equipment, and the order value is EUR 1.4 million.

"Eltek has over the last few years worked strategically to expand the company's relationships with global infrastructure suppliers as a key growth initiative within the Industrial segment, and this contract demonstrates why these relationships are important," said Lars Dousa, Executive Vice President Industrial at Eltek.

Railway & metro is one of three identified industrial niches where Eltek sees growth opportunities in leveraging the company's investments in high-efficiency power systems for the telecom industry. The other two are Power utilities and Marine & offshore

High-efficiency products are key in order to minimize electricity consumed, but even more importantly in order to minimize loss in the form of heat, which is challenging in the hot climate where this equipment will be installed.

For further information:

Lars Dousa, Executive Vice President Industrial
+46 730 40 55 55
[email protected]

Morten Schøyen, Chief Marketing Officer
+47 915 17 452
[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




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Source: Eltek ASA via Globenewswire

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