Altron disposes of Crabtree to Siemens AG
·10 Jul 2017
JSE-listed Allied Electronics Corporation (Altron) has announced that its subsidiary, Powertech has entered into an agreement to dispose of Crabtree Electrical Accessories to Siemens AG.
Crabtree produces and distributes low-voltage components for the South African construction market, including light switches, power outlets, cable routing systems, and adapters.
The disposal of Crabtree is part of the implementation of Altron’s business strategy to focus on its information technology and telecommunications business and exit its manufacturing operations, the group said in a statement.
The transaction is subject to the grant of approvals by the relevant competition authorities.
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