PETACH-TIKVA, Israel, June 21,
2023 /PRNewswire/ -- Eltek Ltd. (NASDAQ: ELTK), a
global manufacturer and supplier of technologically advanced
solutions in the field of printed circuit boards, announced today
that it reached a settlement with its insurance carrier under which
the insurance company will pay an additional $2 million to cover costs and damages incurred by
Eltek with respect to the fire in its plant in June 2022. The
Company previously received an interim payment of $1 million in August
2022.
"We are very satisfied with the agreement which covers all of
the damages incurred and our subsequent costs, mainly the purchase
of new production equipment, construction costs and the replacement
of damaged raw materials," said Eli
Yaffe, CEO of Eltek.
About Eltek
Eltek – "Innovation Across the Board", is a global manufacturer
and supplier of technologically advanced solutions in the field of
printed circuit boards (PCBs), and is an Israeli leading company in
this industry. PCBs are the core circuitry of most electronic
devices. Eltek specializes in the manufacture and supply of complex
and high quality PCBs, HDI, multilayered and flex-rigid boards for
the high-end market. Eltek is ITAR compliant and has AS-9100 and
NADCAP Electronics certifications. Its customers include leading
companies in the defense, aerospace and medical industries in
Israel, the United States, Europe and Asia.
Eltek was founded in 1970. The Company's headquarters, R&D,
production and marketing center are located in Israel. Eltek also operates through its
subsidiary in North America and by
agents and distributors in Europe,
India, South Africa and South America.
For more information, visit Eltek's web site at
www.nisteceltek.com
Forward Looking Statement
Some of the statements included in this press release may be
forward-looking statements that involve a number of risks and
uncertainties including, but not limited to expected results in
future quarters, the impact of the Coronavirus on the economy and
our operations, risks in product and technology development and
rapid technological change, product demand, the impact of
competitive products and pricing, market acceptance, the sales
cycle, changing economic conditions and other risk factors detailed
in the Company's Annual Report on Form 20-F and other filings with
the United States Securities and Exchange Commission. Any
forward-looking statements set forth in this press release speak
only as of the date of this press release. The information found on
our website is not incorporated by reference into this press
release and is included for reference purposes only.
Investor Contact
Ron
Freund
Chief Financial Officer
Investor-Contact@nisteceltek.com
+972-3-939-5023
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SOURCE Eltek Ltd.