Eltek awarded significant marine contract

Drammen, 17 November 2014: Eltek has been awarded a significant marine contract by a leading shipbuilding services company in Singapore.

Following the recently announced acquisition of EV Industrial in Singapore, the contract is for various DNV certified marine secure power systems and has a value of SGD 5.3 million, or approximately NOK 28 million.

"This is a confirmation that our focus on Singapore and South East Asia is a success. The customer is a leading company in the marine business, and a repeat contract from this company is a confirmation that our people in EV Industrial provide the products and support required by this market," said Lars Dousa, Executive Vice President Industrial at Eltek.

"The contract exemplifies the exciting opportunities that Eltek sees in the marine industry, which is one of the industrial segments specifically targeted by us," said Dousa.

The contract is for a series of new installations over a period of four years.

For further information:

Lars Dousa, Executive Vice President Industrial
+46 730 40 55 55
lars.dousa@eltek.com

Morten Schøyen, Chief Marketing Officer
+47 915 17 452
morten.schoyen@eltek.com

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 Exchange (ELT:Oslo) and headquartered in Drammen, Norway. http://www.eltek.com