COMPANY COMMENT
Relief for Altron but any in the offing for MTN?
Altron CEO Mteto Nyati can finally focus his attention on the group’s core information and communications technology (ICT) business. The group said on Tuesday it had found a buyer for Altech UEC, which is best known for making set-top boxes for MultiChoice. The unit also manufactures televisions and tablets. The sale will be a huge relief for Nyati and his management team, who inherited the difficult task of finding buyers for Altron’s underperforming manufacturing businesses, particularly Powertech Transformers — which makes cables and transformers, mostly for Eskom — and Altech UEC. Nyati joined the company from MTN SA in April 2017. But while Altron is now free to focus entirely on its ICT operations, returning the business to its former glory will be a long and arduous task. In 2007, the group was valued at nearly R16bn, making it one of SA’s largest listed firms. But strategic missteps, including its decision to hang on to the manufacturing assets despite the writing on the wal...
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