Nera Telecommunications Ltd (the Company) today announces that the Company has been awarded Purchase Orders with an aggregate value of approximately SGD 23.0 million (approximately NOK 111 million).
About Eltek ASA:
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 planned 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.
Nera Telecommunications offers radio transmission, satellite communications and infocomm equipment and services to the Asian markets. Headquartered in Singapore, NeraTel is 50.1 percent owned by Eltek ASA and separately listed on the Singapore Stock Exchange. The company counts more than 500 employees and reported revenue of NOK 758 million in 2011.