Eltek, Insyte to establish JV in Spain

The company, Eltek Energia S.A., will sell power equipment, installation and services to the telecom infrastructure market in Spain. The company will be operational from early 2006. Insyte Instalaciones was established in 1990 and is delivering installation and services related to telecom, electrical and climate equipment. The company also designs and manufactures electrical power boxes and shelters. Among its customers are all major telecom operators in Spain. The Group has 850 employees and estimated revenue in 2005 of EUR 50 million. “On the basis of Insyte's long relationship with Spanish telecom operators and our dominant market position within installation and service of telecom power equipment, combined with Eltek's first class product portfolio and relationships with global customers, I am confident that our new company is well positioned to win a fair share of the Spanish DC power system marked,” says Ramón Rufián Milla, President of Insyte Instalaciones. “Partnerships play a key role as we continue to extend our reach as a global provider of telecom power solutions. Eltek Energia will provide an inroad into the large Spanish market and strengthen our presence in southern Europe considerably”, says Eltek's Group CEO Morten F. Angelil.