Delta Electronics (Thailand) PCL Announces the Acquisition of All Shares of Eltek Australia Pty Limited

Bangkok, Thailand, July 24, 2020 - Delta Electronics (Thailand) Public Company Limited (later referred to as “DET”), announced today its board of directors has approved a deal to acquire Eltek Australia Pty Limited from Eltek AS, a subsidiary of Delta Electronics, Inc. The board also approved a deal to sell two overseas associated companies, Delta Electronics (Switzerland) AG and Delta Greentech Electronics Industry LLC, to Delta International Holding Limited and Delta Electronics (Netherlands) BV, respectively.

DET will acquire 100% shares in Eltek Australia Pty Limited, through its wholly owned subsidiary Delta Energy Systems (Singapore) Pte Ltd., for a total purchase price of USD14.62 million (equivalent to THB466.05 million).

Delta Greentech (Netherlands) B.V., a subsidiary of DET, will sell its 49% shares in Delta Electronics (Switzerland) AG to Delta International Holding Limited, for a total transaction price of USD12.68 million (equivalent to THB404.21 million); and its 49% shares in Delta Greentech Electronics Industry LLC to Delta Electronics (Netherlands) BV, for a total transaction price of USD1.76 million (equivalent to THB 56.10 million).

All above transactions are expected to be completed within the fourth quarter of year 2020.

Mr. Jackie Chang, President of DET, underscored, "The acquisition of Eltek Australia and disposal of Delta Switzerland and Delta Industry shares will allow Delta Thailand Group to focus our resources in growing the markets in the Southeast Asia, India and Australia/ New Zealand regions. Eltek, a well-established brand name in Australia and New Zealand, together with Delta Australia will create great synergy to accelerate Delta’s growth in the region."

DET, listed in the Stock Exchange of Thailand since 1995, is an electronics manufacturing company in Thailand and a subsidiary of Delta Electronics, Inc. The company is focused on the production of switching power supplies, power systems, automotive electronics and related products in addition to providing energy-saving solutions with core competencies in power electronics and automation.


31 July 2020