Eltek reaches insurance settlement related to 2022 fire
PCB manufacturer Eltek Ltd. says that it reached a settlement with its insurance carrier under which the insurance company will pay an additional USD 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 USD 1 million in August 2022.
It was on June 15, 2022, that a fire broke out in one of the production rooms at the company's plant in Petah-Tikva, Israel. The fire caused damage to part of the production line located in the room, but luckily it was extinguished without any casualties.
"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," says Eli Yaffe, CEO of Eltek in a press release commenting on the settlement.