Altech will not give up on the idea of pursuing international acquisitions, despite the financial disaster it that has unfolded for it in East and West Africa in recent years. However, the JSE-listed technology group will take a breather before pursuing new deals, says CEO
Browsing: Altron
Altron and subsidiary Altech both cautioned their shareholders within moments of one another on Friday that they were in talks that could have an impact on the share prices of the two companies. The move has ignited speculation that Altron could have another go at delisting Altech, which
Despite good revenue growth of 11% in the six months ended 31 August 2012, JSE-listed Altron’s profits have been pummelled due to margin pressure and writedowns at subsidiary Altech. For the period, Altron reported operating profit before capital items of R586m, from R627m previously. However, the problems at Altech
JSE-listed technology group Altech has again been hit by poor performance at its East and West Africa operations, and has warned that as a result of impairments in these businesses it expects headline and adjusted headline earnings per share for the six months ended 31 August 2012 to be between 18% and 25% lower than a year
Altron subsidiary Bytes Technology Group has acquired Alliance Business Solutions, an Oracle software specialist, for an undisclosed sum. The acquisition has been done through Bytes Systems Integration. The rationale for the deal
Altron Group has appointed Neil Kayton as the new CEO of its Powertech subsidiary following the resignation of Norbet Claussen from the position this month. Kayton was Powertech’s chief financial officer. The appointment is effective from 1 July. Kayton, a chartered accountant, joined
At 7ft tall, Mayan Mathen is easy to spot in a crowd. It also means strangers find him a bit of a novelty and he says he’s often asked to be in pictures with tourists, rather than take pictures of them, when he’s travelling. Mathen does a great deal of travel in his role as chief technology officer
Former Cell C CEO, US national Jeffrey Hedberg, intends to stay in SA and to remain actively involved in the information and communications technology industry. Speaking to TechCentral on Wednesday, Hedberg says he has not made any decisions about his future career plans, adding that he’s taking time to
Norbert Claussen, CEO of Altron subsidiary Powertech, has resigned from his position at the company. He has also stepped down as a director of the Altron board. His departure is effective from 30 June. Claussen joined the Altron group in 1996 as CEO of Willard Batteries. The division expanded to become
Jeffrey Hedberg’s short-lived tenure as chief operating officer of Altech and CEO Craig Venter’s very public reaction to his resignation appear to reflect deep underlying tensions in the Venter family empire. Can Altron founder Bill Venter, now 77, hold the family-run