Eltek ASA Considers Alternatives for Renewable Business

Friday, 25 Oct 2013 01:00am EDT 

Eltek ASA announced that the Company is evaluating alternative ways forward with respect to its Renewable business and expects to make a decision within the fourth quarter. The renewable business has underperformed and the outlook is weak mainly due to the fact that one of the Company's OEMs has not taken delivery of committed volumes. The total investment in Renewable amounts to about NOK 110 million, including working capital NOK 34 million, other assets NOK 54 million, and future purchase commitments NOK 22 million. 

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