Eltel discontinues the unprofitable power transmission business outside of Europe
Eltel's Board of Directors today decided to discontinue the unprofitable business of power transmission projects outside of Europe. Operations are conducted within a separate entity in Eltel, called Power Transmission International, which is included in Other as of the first quarter of 2017. Costs for discontinuing the operations are estimated to be approximately EUR 40 million. Majority of the cost is expected to occur in 2017 and the remainder in 2018.The decision to discontinue Power Transmission International means that Eltel will complete ongoing customer projects, but will not