Eltek Pacific To Supply Telecom Power Systems to Silcar

Eltek Pacific Pty Ltd. (Sydney, Australia), a subsidiary of Eltek ASA (Drammen, Norway), was awarded a frame agreement to supply telecom power systems to Silcar (Australia). The frame agreement could generate revenues of AUD$100.0 million over a five-year period. The contract constitutes part of a delivery by Silcar to a major telecommunications carrier in Australia, with Eltek being a major subcontractor. Eltek Pacific's contract has an initial duration of five years. In addition, Silcar's agreement with the end customer carries an option for continuance of its deliveries, whereof Eltek may be a part. Eltek's frame agreement carries an estimated value of AUD$20.0 million per year. The deliveries will commence in the fourth quarter 2000, reaching the estimated level in 2001. The contract makes Eltek one of the top three vendors of telecom power systems in the Asia-Pacific region."We are very satisfied that we again have been able to demonstrate Eltek's industrial ability. This contract is major from an industry viewpoint," commented CEO Morten F. Angelil. "For Eltek, the contract is not only its biggest ever but is also a confirmation that our industrial strategy in the Asia-Pacific region, and globally, is working."