Powertech

Founded in 1978, Powertech has experienced consistent and sustained growth, both organically and by acquisition, in the intervening years. Driven by a sustained focus on core markets and customers, the organisation has, over the years, forged critical partnerships with key suppliers while continually examining its offerings for perceived gaps and filling these by targeted acquisition. It is a strategy which has served the company well, and as such will continue to guide Powertech's expansion in the future.

Key milestones for the company include:

Event List

1978	Powertech founded with its first company EPC.

1981	Acquired a 66% stake in Whiteleys SA, expanding activities in the electrical insulation field.

1982	Acquired Willard Batteries and a controlling interest in Lascon Lighting.

1984	Powertech's turnover exceeds R100 million; it acquires 49,6% and management control of Asea Electric SA and a 60% interest in African Electric/Litemaster, its electrical accessories business.

1985	Acquired a major stake in Aberdare Cables.

1988	Agreement reached with BBC Brown Boveri of Switzerland for Asea to sell its operating divisions to Brown Boveri SA for a 50% shareholding in the merged company.

1989	Aberdare Cables awarded SABS mark 1418 and Willard SABS 0157.

1990	Turnover exceeds R1 billion; JA Crabtree acquired and integrated with Litemaster.

1991	Yelland Technology Holdings acquired; EPC Integrated with Litemaster and Crabtree.

1992	ABB acquires 50% interest in Accurate Control Systems; Aberdare acquires Systol; agency for Omron product range secured. Aberdare receives a Cullinan Design Trophy.

1993	Acquisition of both Phillips holding and minority interests in Aberdare Cables. ABB Powertech is established as a joint venture. Acquisition of U-Lite Holdings, integrated with Lascon Decalight and WJ Parry merged to form Tridonic SA.

1994	Turnover exceeds R1.5 billion

1995	Delta Cables acquired and relocated to Maputo, Mozambique.

1996	Turnover exceeds R2 billion; acquisition of Alcobre Condutores, a cable manufacturing plant in Portugal.

1997	Awarded a major contract for Namibian transmission line; acquired a share in ABB Powertech Transmission and Distribution.

1998	Acquired Sabat Battery Company; awarded a major portion of Telkom's R800-million cable contract. Headline earnings increase by 20%; dividend increased by 22%. Acquisition of Voltex; exports increase by 27% to R205 million. Cash resources at R187 million.

1999	A Black empowerment group acquires a 10% stake in Aberdare Cables for more than R10-million. Aberdare Cables in a R20-million Mozambican joint venture; Aberdare Cables and Corning Incorporated announce establishment of alliance to provide optical fibre and cable to Southern Africa. Powertech Battery Group strengthens its Southern African position in the DC power market.

2000	Acquisition of leading Spanish telecommunication cable manufacturer, Cables de Comunicaciones Zaragoza SL. Offshore investments in Dynamic Batteries (UK) and Alcobre Condutories Electricos, SA (Portugal) now being directly held and consolidated by Powertech. Loss-making non-core U-Lite Luminaire manufacturing business disposed of at end December 2000. Group reporting restructured into Power Electronics and Telecommunication.

2001	Disposal of 25.1% equity interest in Aberdare Fibre Optic Cables (Pty) Ltd to world leader in fibre-optics, Corning Inc. of the USA. Acquired distribution transformer business, Cape Town based Power Engineers, formerly owned by NEI and integrated into our black-empowerment subsidiary Desta Power Matla. Black Empowerment: 10% equity stake in Aberdare Cables as well as a 20% equity stake in our renewable energy business Rentech sold to black empowerment group Ikwezi. 51% interest in Alcon Conductors sold to a BEE partner in power electrical market.

2002	Foreign revenues reach 28% of total income. Kagiso Trust acquires a 20% stake in Battery Technologies.

2003	Izingwe acquires a 30% stake in Aberdare Cables and becomes Powertech�??s de facto and anchor empowerment partner. Kagiso increases its equity stake in Battery Technologies to 25,1%.

2004	Desta Power Matla restructures for a direct 25,05% equity empowered shareholding by Power Matla; turnover surpasses R3.5 billion.

2005	Acquisition of Calidus Von Roll Isola (Pty) Ltd, valued at R32-million.