Powertech, a wholly owned subsidiary of the JSE-listed Altron group, has sold its 50% stake in Tridonic SA to Tridonic, Austria. The transaction will take effect on 1 February 2014. Tridonic SA had been a joint venture between Powertech and Tridonic Austria since 1993.
Neil Kayton, group executive: Altron Power says, “We have had a long and fruitful partnership with Tridonic Austria. As part of our drive for efficiency and customer centricity, Powertech has taken the decision to focus on its core business of power electronics.
“We decided to sell to our stake in Tridonic SA to our partners and enable them to expand their business in sub-Saharan Africa and dedicate our focus and funds on other areas of the business.”
Tridonic SA is an intelligent lighting control and energy-efficiency lighting supplier. The company will remain at its current premises in Jet Park, Johannesburg.
Through its four operating divisions – Cables, Transformers, Batteries, and System Integrators – Powertech comprises of a large number of individual operations specialising in the design, manufacturing and delivery of world class products, services, expertise and solutions to address diverse needs for electrical and power equipment in South Africa and beyond.
Powertech is part of the Altron Power division.
