SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
--------------------------
F O R M 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR
15D-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
FOR THE MONTH OF AUGUST 2005
ELTEK LTD.
(Name of Registrant)
Sgoola Industrial Zone, Petach Tikva, Israel
(Address of Principal Executive Office)
INDICATE BY CHECK MARK WHETHER THE REGISTRANT FILES OR WILL FILE ANNUAL
REPORTS UNDER COVER OF FORM 20-F OR FORM 40-F.
FORM 20-F [X] FORM 40-F [_]
INDICATE BY CHECK MARK IF THE REGISTRANT IS SUBMITTING THE FORM 6-K IN
PAPER AS PERMITTED BY REGULATION S-T RULE 101(B)(1): [_]
INDICATE BY CHECK MARK IF THE REGISTRANT IS SUBMITTING THE FORM 6-K IN
PAPER AS PERMITTED BY REGULATION S-T RULE 101(B)(7): [_]
INDICATE BY CHECK MARK WHETHER BY FURNISHING THE INFORMATION CONTAINED IN
THIS FORM, THE REGISTRANT IS ALSO THEREBY FURNISHING THE INFORMATION TO THE
COMMISSION PURSUANT TO RULE 12G3-2(B) UNDER THE SECURITIES EXCHANGE ACT OF 1934.
YES [_] NO [X]
IF "YES" IS MARKED, INDICATE BELOW THE FILE NUMBER ASSIGNED TO THE
REGISTRANT IN CONNECTION WITH RULE 12G3-2(B): 82-
THIS FORM 6-K IS BEING INCORPORATED BY REFERENCE INTO THE REGISTRANT'S FORM S-8
REGISTRATION STATEMENTS FILE NOS. 333-12012 AND 333-123559.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
ELTEK LTD.
(Registrant)
By: /s/ Arieh Reichart
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Arieh Reichart
President and Chief Executive Officer
Date: August 15, 2005
ELTEK LTD.
Amnon Shemer, CFO
+972-3-9395023
amnons@eltek.co.il
ELTEK PENETRATES THE U.S. MARKET; SIGNS A 3 - YEAR FRAMEWORK AGREEMENT WITH A
U.S. MEDICAL EQUIPMENT MANUFACTURER
KEY DEVELOPMENTS IN THE U.S. MARKET:
o THE MEDICAL EQUIPMENT CUSTOMER HAS PROVIDED ELTEK WITH ORDERS
o A U.S. DEFENSE COMPANY HAS AWARDED ELTEK WITH INITIAL ORDERS
o ELTEK PASSES ADVANCED STAGE EVALUATION BY A MAJOR U.S. AEROSPACE
CONGLOMERATE
PETACH-TIKVA, Israel, August 15, 2005 - Eltek Ltd. (NasdaqSC: ELTK), the leading
Israeli manufacturer of advanced circuitry solutions, today announced the
signing of a three-year framework agreement with a U.S. medical equipment
manufacturer. This customer already begun to place orders for Eltek's flex -
rigid PCBs.
The company also reported the receipt of initial orders from a major U.S.
defense company and the passing of key advanced stage evaluations by a U.S.
aerospace manufacturer.
"These multiple cross-industry achievements signify an important milestone in
our penetration of the strategic U.S. market. Eltek's unique flex-rigid
technological competencies are beginning to earn recognition among leading
U.S-based manufacturers," said Arieh Reichart, President and Chief Executive
Officer of Eltek.
"Increasing the revenue contribution of our international operations in general
and the U.S. in particular continue to be a key component of our strategic plan.
The target benefits are clear: improved revenue mix, higher gross margin and
improved overall corporate productivity and visibility," continued Reichart.
"Therefore, I am very encouraged with our ability to successfully penetrate the
lucrative U.S. market for high-end flex-rigid PCBs. "
"Looking forward, we will continue to focus our marketing efforts and business
development initiatives on expanding our U.S. presence and further diversifying
our U.S. customer base. Our strategic goal is to turn the U.S. market along with
Europe, into a formidable and growing source of higher margin revenues for
Eltek," he concluded.
Amnon Shemer, CFO of Eltek commented: "The framework agreement signed with the
medical equipment manufacturer is our first multi-year agreement ever achieved
in the U.S. market, while our early engagement with the defense customer, and
our success in passing a thorough competitive evaluation process by the
prospective aerospace conglomerate could lead to follow-on repeated orders, thus
increasing our production efficiency and productivity."
About the Company
Eltek is Israel's leading manufacturers of printed circuit boards, the core
circuitry of most electronic devices. It specializes in the complex high-end of
PCB manufacturing, i.e., HDI, multi-layered and flex-rigid boards. Eltek's
technologically advanced circuitry solutions are used in today's increasingly
sophisticated and compact electronic products. The Company has invested heavily
in upgrading its production facilities over the past five years.
For more information, visit Eltek's World Wide Web site at www.eltekglobal.com.
Certain matters discussed in this news release are forward-looking statements
that involve a number of risks and uncertainties including, but not limited to
statements regarding expected results in future quarters, risks in product and
technology development and rapid technological change, product demand, the
impact of competitive products and pricing, market acceptance, the sales cycle,
changing economic conditions and other risk factors detailed in the Company's
filings with the United States Securities and Exchange Commission.