Altron finally sheds unit of set-top box producer Altech UEC
Altron said on Tuesday it had finally found a buyer for Altech UEC, the company’s division that manufactures set-top boxes and related products. The group has been trying to offload its manufacturing assets for some time as part of its transformation into an information and communications technology (ICT) company. In July, Altron sold its Eskom-focused Powertech Transformers business for R250m. Altech UEC was "the last noncore control asset" in the group, Altron said on Tuesday when announcing the deal. Pending approval by the Competition Commission, the transaction was expected to be concluded by the end of November 2018. Altron also said on Tuesday that for the half-year ended August, normalised group revenue from continuing operations was expected to rise by between 41% and 45%, while headline earnings were forecast to increase by 22% to 28%. "The majority of the group’s operations have had a strong performance for the half year ended 31 August 2018, with a number of these produc...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.