Eltek Valere secured major telecom power supply deal in the US
Eltek Valere expects to deliver power systems with a value of approximately USD
20 million (NOK 110 million) in 2011 under a new agreement with a global telecom
system integrator. The end-user is a major US telecom operator, and the
deliveries in 2011 represent the first phase in an LTE (4G) rollout program
running through 2013.
Eltek Valere will deliver outdoor cabinets with its Flatpack2 2kW HE rectifiers,
and has already received the first USD 2 million purchase order for the project.
-This is one of the largest single deliveries in the US telecom power market
this year, and given the potential volumes for the following years this may
become one of the largest project we have ever been awarded, says CEO Colin Howe
in Eltek Valere.
Eltek Valere reported revenue of NOK 3.2 billion in 2010, of which NOK 1 billion
in the Americas. Revenue in the Americas region increased 8 percent in 2010,
with a particularly robust development in USA.
-We have worked hard to strengthen our position in the US and see that we are
gaining ground in this large telecom market. We have a strong and broad
portfolio of compact and energy efficient products that will enable us to
continue competing successfully for this type of major deliveries also going
forward, says Howe.
For further information, please contact:
CEO Colin Howe, Eltek Valere AS, tel: +44 77Â 684Â 664 46
CEO Jørgen Larsen, Eltek ASA, tel: +47 905 27 930
CFO PÃ¥l Skistad, Eltek ASA, tel: +47 908 50 378
About Eltek ASA:
Eltek is a strategic technology partner within power solutions through Eltek
Valere, and a regional supplier of transmission systems, satellite
communications and infocomm systems through Nera Telecommunications. The
Company reported revenue of NOK 4 billion in 2010, and has close to 2,700
employees in close to 40 countries. Following the divestment of Nera Networks,
Eltek focuses on its core business in telecom power and power electronics
solutions for industrial applications and renewable markets such as solar power
and electric vehicles. Eltek is listed on Oslo Stock Exchange and headquartered
in Drammen, Norway.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
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Source: Eltek ASA via Thomson Reuters ONE
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