Eltek Ltd. (NASDAQ: ELTK), a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards, announced that it reached a settlement with its insurance carrier under which the insurance company will pay an additional $2 million to cover costs and damages incurred by Eltek with respect to the fire in its plant in June 2022（A fire broke out in one of the production rooms at Eltek's plant in Petah-Tikva, Israel. The fire damaged part of the production line located in that room without any casualties.）.The Company previously received an interim payment of $1 million in August 2022.
"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," said Eli Yaffe, CEO of Eltek.
More information on Eltek from PCB UNION
①Eltek Ltd. Reports 2023 First Quarter Financial Results
②Eltek Ltd. Reports Full year and Fourth Quarter 2022 Financial Results
About Eltek
Eltek – "Innovation Across the Board", is a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards (PCBs), and is an Israeli leading company in this industry. PCBs are the core circuitry of most electronic devices. Eltek specializes in the manufacture and supply of complex and high quality PCBs, HDI, multilayered and flex-rigid boards for the high-end market. Eltek is ITAR compliant and has AS-9100 and NADCAP Electronics certifications. Its customers include leading companies in the defense, aerospace and medical industries in Israel, the United States, Europe and Asia.
Eltek was founded in 1970. The Company's headquarters, R&D, production and marketing center are located in Israel. Eltek also operates through its subsidiary in North America and by agents and distributors in Europe, India, South Africa and South America.
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