https://www.engineeringnews.co.za

Powertech sells PTSI unit for R140m

Powertech sells PTSI unit for R140m

Photo by Bloomberg

1st December 2015

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

Font size: - +

Local electronic equipment supplier Powertech has signed a R140-million deal to sell its Powertech Systems Integrators (PTSI) business to asset management firm Capitalworks.

This would include all PTSI's operating assets and liabilities, including all client and supplier contracts, as well as tangible and intangible assets, but excluded Powertech QuadPro SA and Technology Integrated Solutions.

A systems engineering business, PTSI mainly operated in the power and energy sectors with customers that included power utilities and large power users in South Africa and sub-Saharan Africa.

Its engineering solutions included secondary plant for substation automation, network planning and control software, mobile workforce and asset management systems, and systems for advanced and smart metering infrastructure.

PTSI also marketed a range of products, including earth fault and surge protection devices and related protection and metering equipment.

A strategic review by Powertech and parent company Altron had determined that PTSI was no longer a core asset for the Altron group.

PTSI generated revenue of R205-million, but a loss before interest, taxes, depreciation and amortisation of R7-million and a loss after tax of R13.6-million in the six months ended August 31.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.087 0.14s - 175pq - 2rq
Subscribe Now