Eltek intends to speed up current investments
Israeli PCB manufacturer Eltek says that the company has decided to accelerate its current investments in production equipment.
The company's CEO, Eli Yaffe, says that Eltek's cash flows from operating activities together with the cash the company received from its insurance carrier have provided Eltek with the possibility to repay the balance of its bank debt, which will reduce interest expenses going forward. As a result, the company is now moving forward with its investment plan.
"We are pleased that our strong cash position has enabled us to repay our bank debt, expedite our current investments in production equipment in order to meet the current high demand for our products and to continue with our $15 million accelerated investment plan, " said Eli Yaffe, CEO of Eltek.