Eltek Energy Announces Closing of Valere Power Transaction and Creation of Eltek Valere

June 07, 2007 by Jeff Shepard

Eltek ASA announced the closing of the acquisition of Valere Power by its Eltek Energy subsidiary. The combined company is called Eltek Valere and has its headquarters in Richardson, Texas.

Eltek Valere is a $500 million provider of dc power systems to telecommunications and industrial markets worldwide. The company has more than 1,300 employees with offices in 25 countries and sales to more than 100 countries. Eltek Valere intends to investigate a separate listing of the company in the US or another major global exchange in the future.