Eltek ASA: Eaton Towers Selects Eltek as Power Partner

DRAMMEN, NORWAY - June 29, 2012 - Eltek, the world leader in high efficiency power systems, today announced that Eaton Towers Africa Holdings UK Ltd, Africas leading mobile tower co-location and services company, has signed a three-year contract naming Eltek MEA DMCC as its power partner. 

The contract will enable Eltek to provide DC power solutions and associated equipment to Eaton Towers subsidiaries and partners in Uganda, Ghana, Kenya and South Africa. Eltek will also provide power consultation and training to enable Eaton Towers to provide power solutions to operators who utilize the companys services.

This contract is an important step forward for Eltek in Africa and proves our ability to provide products and services across the African continent. We look forward to enable Eaton to significantly reduce its operational costs by using our solutions, said Bob Hurley, Regional Director for MEA in Eltek.

Eltek was selected as a preferred supplier to the Eaton group based on a number of key factors, including product leadership, market experience, competitive pricing and local presence. The company will initially supply its Flatpack 2 HE power equipment but will also explore possible hybrid solar power systems deliveries to help further reduce operational costs.

Eltek has highlighted the growth potential on the African continent as one of its main targets for geographic expansion, both because of generally increasing demand for communication services in Africa, and also because the region lends itself well to Elteks market leading hybrid solutions and systems.  Eltek earlier in 2012 opened its two first offices in sub-Saharan Africa, in Lagos, Nigeria, and Nairobi, Kenya.  

About Eltek 

Eltek is a strategic technology partner within power solutions. The Company reported revenue of NOK 3.6 billion in 2011, and has Approximately 2,400 employees in close to 40 countries.  Following the proposed divestment of Nera Telecommunications, 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.

About Eaton Towers
Eaton Towers was founded to be an independent, truly neutral manager to facilitate universal Telecommunications service in Africa through reduction of operator capital and operating costs via shared infrastructure.

For further information, please contact:

Eltek ASA
CFO Pål Skistad: +47 908 50 378