Tridonic acquires sole ownership of South African sales subsidiary
Tridonic will increase its stake in its South African sales subsidiary from 49.99% to 100%. The outstanding shares will be acquired from the former joint venture partner, Power Technologies (Pty) Ltd., with effect to 1 February 2014.
Tridonic’s South African sales company is based in Johannesburg, has a branch office in Cape Town and currently employs 15 people.
“We are pleased to say that from now on we will be continuing our successful sales activities in South Africa as sole owner. In Africa, and in Sub-Saharan Africa in particular, we see good potential for our business with intelligent, energy-efficient lighting components and expect to be able to further expand our presence in the region”, said Tridonic CEO Alfred Felder.
For more information, visit Tridonic.