Eltek Restructures Under Single Brand Name To Demonstrate Renewed Focus on High-Efficiency Power Conversion Products



Eltek, the world leader in high efficiency power systems for telecommunications, industrial applications, electric vehicles and solar energy projects, announced today it has finalized the merger of Eltek Valere into the corporate Eltek brand, creating a single operational organization. Eltek will continue to focus on leading the industry in high-efficiency power conversion technology, and will deepen its commitment to develop, sell and support the key products under a Valere-titled product line from its 2007 acquisition of Valere Power. While the corporate company name change is official, some Eltek Valere branding will remain in certain countries throughout 2012. The company recently divested itself of its Nera Networks microwave radio unit to refocus on moving into new markets for its core DC power technology. In recent years, Eltek has expanded from its base in telecom power systems into solar inverters, industrial DC power supplies, electric vehicle charging products and other applications. In coordination with the change to the Eltek name, a new website was launched today at www.eltek.com. This new website not only touts the consolidated Eltek brand, but offers an enriched customer experience with enhanced features and access to information. "For more than 40 years, Eltek has pushed the boundaries of power technology and has lead the industry in high efficiency power systems," said Colin Howe, CEO of Eltek. "The shift to a single corporate Eltek brand doesn't change our commitment to customers who depend on the Valere power product line. In fact, the change is part of the company's ongoing evolution to improve its product offerings, seek higher efficiency in products and processes and meet changing customer needs and market requirements. We believe the organizational changes that have taken effect today will further streamline Eltek's operational structure, enabling the company to move forward with its globally aligned brand and long-term strategic vision." About Eltek Eltek is a technology leader in high-efficiency (HE) power solutions for telecom and industrial applications. The company also has a growing business in renewable markets, such as photovoltaic grid inverters and chargers for electric vehicles. Headquartered in Drammen, Norway, with U.S. headquarters in Richardson, TX, the company's global operations employ approximately 2,900 people, offices in 40 countries and sales in more than 100 countries. www.eltek.com