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Real Economy News in Real Time
R/€ = 15.66 Change: -0.05
R/$ = 13.94 Change: -0.10
Au 1439.12 $/oz Change: 19.17
Pt 856.42 $/oz Change: 7.50
 
 
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Actom sells Wilec division

14th February 2019 BY: Marleny Arnoldi
Creamer Media Online Writer

Electromechanical equipment manufacturer Actom has sold its Wilec division to Makarenge Electrical Industries, effective February 1.

The disposal forms part of Actom’s corporate strategy to focus on its core businesses within the electrical infrastructure industrial sector.

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The company adopted this strategy years ago and has put it increasingly into effect in response to altered market conditions resulting mainly from the global economic downturn dating from 2008, along with other significant business challenges arising during the course of the past decade.

Wilec manufactures and supplies input materials to the electrical rotating machine, transformer manufacturing and repair industries.

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It is a supplier of input materials required by several of Actom’s manufacturing and repair businesses, but is not integral to the company’s main scope of operations, where the focus is on production, supply, repair and maintenance of complete electromechanical equipment.

Additionally, the transaction demonstrates Actom’s commitment to government policy of encouraging the development and advancement of black industrialists, since Makarenge is a black-empowered company. 

EDITED BY: Chanel de Bruyn Creamer Media Senior Deputy Editor Online
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