JSE listed Allied Electronics Corporation Limited (Altron) this week announced that its wholly owned subsidiary, Power Technologies Proprietary Limited (Powertech), has entered into an agreement whereby it will dispose of Crabtree Electrical Accessories (Crabtree) to Siemens AG.
Crabtree produces and distributes low-voltage components for the South African construction market, including light switches, power outlets, cable routing systems, and adapters. The disposal of Crabtree is part of the implementation of Altron’s business strategy to focus on its information technology and telecommunications business and exit its manufacturing operations. The transaction is subject to the grant of approvals by the relevant competition authorities. Contact: Crabtree