Eltek Announces Repayment Of Its Bank Debt And Acceleration Of Its Current Investments In Production Equipment
Portfolio Pulse from Benzinga Newsdesk
Eltek Ltd. (NASDAQ:ELTK) has announced the repayment of its $1.7 million bank debt and plans to accelerate its current investments in production equipment. The company's cash balance is now $7 million.

June 27, 2023 | 11:34 am
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Eltek Ltd. has repaid its $1.7 million bank debt and plans to accelerate investments in production equipment, improving its financial position.
Eltek's repayment of its $1.7 million bank debt and acceleration of investments in production equipment will likely have a positive impact on its stock price in the short term. The repayment reduces the company's liabilities and interest expenses, while the increased investments signal growth and expansion. This news is highly relevant and important for investors, as it directly affects the company's financial position and future prospects.
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