Altron lets go of assets

JSE-listed Altron intends to finalise the disposal of non-core assets by the end of its 2018 financial year.

According to Mteto Nyati (pictured) Group CEO, Altron will dispose of decoder manufacturer Altech UEC, and electrical business Powertech Transformers, by the end of February next year.

Nyati, previously CEO of MTN South Africa, joined Altron earlier this year, in April. He is overseeing some restructuring at the company - efforts initiated by the CEO before him, Robbie Venter. The 52-year-old Altron group's assets include IT company, Bytes and vehicle tracking and fleet management firm, Altech Netstar.