Eltek Ltd. (ELTK)

[midastouch017]

Eltek Selected by a Tier - One European Military and Aerospace Conglomerate for a Three - Year Strategic High - End PCBs Production Agreement

Wednesday October 17, 6:41 am ET
-- This new engagement: a multi - million dollar revenue potential for Eltek
-- The customer has begun to place orders for Eltek's high-end PCBs under the new agreement

PETACH-TIKVA, Israel--(BUSINESS WIRE)--Eltek Ltd. (Nasdaq:ELTK - News), the leading Israeli manufacturer of advanced circuitry solutions, today announced that following a tender for the next three years, it has been selected as a provider of high-end high-reliability PCBs by a major European military and aerospace conglomerate for use in highly complex, mission critical avionics equipment and applications. The customer has begun to place orders for Eltek's high reliability PCBs under the new tender.

Arieh Reichart, President and Chief Executive Officer of Eltek, said: "We are honoured and proud to have been chosen by this well-known conglomerate for a strategic relationship following a strict evaluation process and highly competitive tender. This win has a multi - million dollar potential for Eltek as we expect our high-end PCBs to be incorporated in a growing variety of products and applications. Winning this tender marks another important achievement in our efforts to gain new tier-one customers, reinforce our strong position in key high-end verticals, further diversify our serial production customer base and exploit our tremendous long-term growth opportunities in the global high-end PCBs market."

"This agreement adds an important multi-quarter serial production engagement to our customer base. As we had no revenues from this customer in previous years, we expect this win to have a growing impact on our overall growth." Mr. Reichart concluded.

About the Company

Eltek is Israel's leading manufacturer of printed circuit boards, the core circuitry of most electronic devices. It specializes in the complex high-end of PCB manufacturing, i.e., HDI, multi-layered and flex-rigid boards. Eltek's technologically advanced circuitry solutions are used in today's increasingly sophisticated and compact electronic products. The Company has invested heavily in upgrading its production facilities over the past five years.

For more information, visit Eltek's World Wide Web site at www.eltekglobal.com.

http://biz.yahoo.com/bw/071017/20071017005556.html?.v=1