Allied Electronics (Altron) will finalise the disposal of wholly owned subsidiary Altech UEC within two to three months, says Altron CEO Mteto Nyati. The looming disposal of Altech UEC, the developer and manufacturer of set-top boxes, is part of Altron’s plans to position itself as an information and communications technology (ICT) player. Altech UEC is among noncore assets that the listed technology group has earmarked for disposal during the current financial year.
The company last week announced the conclusion of the sale of its 80% interest in Powertech Transformers to a broad-based black economic empowerment consortium comprising Europe’s number one medium-sized manufacturer of transformers, SGB-SMIT, and local black-owned Power Matla Group. Nyati said the company was in the final stages of concluding the disposal of Altech UEC. "We believe that in the next two to three months, that should be concluded. Of course, it still needs to go through the Competition Commission. B...
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