By Staff Writer, ITWeb
Johannesburg, 10 Jul 2017
Altron CEO Mteto Nyati.
Altron subsidiary Powertech has entered into an agreement whereby it will sell Crabtree Electrical Accessories to Siemens, the group has announced.
The monetary value of the sale has not been disclosed.
In a statement, the JSE-listed group says the transaction is subject to the grant of approvals by the relevant competition authorities.
According to the statement, the disposal of Crabtree is part of the implementation of Altron's business strategy to focus on its ICT business and exit its manufacturing operations.
Crabtree produces and distributes low-voltage components for the South African construction market, including light switches, power outlets, cable routing systems and adapters.
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