Altron’s Powertech sheds Tridonic stake
JSE-listed Altron subsidiary Powertech has sold off its 50% stake in Tridonic SA to joint venture partner Tridonic Holding Austria.
The transaction, effective February 1, would allow Tridonic Austria to expand its business in sub-Saharan Africa, while Powertech narrowed its focus and funds to other areas of its business.
“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,” said Altron Power group executive Neil Kayton.
Tridonic SA would remain at its current premises in Jet Park, Johannesburg.
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