Eltek Receives $1.4 Million Loan from Nistec
July 3, 2017 | EltekEstimated reading time: 1 minute
Eltek Ltd has obtained a loan of NIS 5 million (approximately US$1.4 million) from Nistec Ltd, the company's controlling shareholder.
The loan agreement between the company and Nistec was approved by the company's Audit Committee and Board of Directors. The principal terms of the loan are:
- The loan will not bear interest, but will be linked to increases in the Israeli consumer price index.
- Nistec, in its sole discretion, may demand full repayment of the Loan at any time, with two (2) business days’ prior notice. In addition, Nistec may demand immediate repayment of the loan upon the occurrence of certain customary events of default or in the event of a change of control.
- The loan (or any part thereof) may be repaid at any time at the Company’s discretion.
Yitzhak Nissan, Chairman of the Board and Chief Executive Officer, commented, "As Eltek’s controlling shareholder, Nistec, by providing the loan to Eltek, demonstrated its support and confidence in the Company. The loan will assist the Company to improve its financial condition and contribute to growing its business."
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 the Israeli leader 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 has ITAR, AS-9100 and NADCAP Electronics permits and its customers include top of the line 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, and R&D, production and marketing center is located in Israel. Eltek operates also through its subsidiaries in North America in Europe and by agents and distributors in Europe, India, South Africa and South America.
For more information, visit Eltek's website.
Suggested Items
RTX, the Singapore Economic Development Board Sign MOU Outlining 10-year Growth Roadmap
06/20/2025 | RTXRTX and the Singapore Economic Development Board (EDB) have signed a Memorandum of Understanding (MoU) which outlines a 10-year roadmap to further long-term strategic collaboration in Singapore.
Indra Signs Agreement with AXISCADES to Boost Production of Cutting-Edge Systems in India
06/18/2025 | PRNewswireParis Air Show -- Indra and the Indian technology company AXISCADES have signed an agreement to collaborate on the production of solutions for the aerospace and defense markets.
GKN Aerospace Delivers First High Voltage EWIS System for Clean Aviation’s SWITCH Project
06/16/2025 | GKN AerospaceGKN Aerospace has completed and delivered the first high voltage Electrical Wiring Interconnection System (EWIS) for the Clean Aviation SWITCH project.
RTX's Collins Aerospace Expands Aircraft Electrification Capabilities in Europe
06/12/2025 | RTXCollins Aerospace, an RTX business, expanded its aircraft electrification capabilities with the introduction of a new engineering center of excellence in Wolverhampton, UK, and a new electric thrust reverser actuation systems (elecTRAS) production line in Colomiers, France.
Facing the Future: Investing in R&D to Stay Competitive
06/10/2025 | Prashant Patel -- Column: Facing the FutureIn the PCB industry, staying ahead of the competition requires more than production efficiency; it demands continuous innovation, a firm commitment to research and development (R&D), and a proactive approach to emerging technologies. Companies that invest in R&D are better positioned to develop advanced solutions, enhance product reliability, and adapt to the dynamic demands of the electronics industry.