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Electronics Production | February 17, 2010

TT Electronics sells Wire Systems Technology unit

UK-based TT electronics is to sell its South African subsidiary Wire Systems Technology to First Strut.

The deal - with around £5 million - is subject to clearance from the South African Competition Commission and approval by the South African exchange control authorities. TT Electronics' CEO Geraint Anderson is cited in severla media reports in saying "The disposal of WST represents further progress against the objectives we set following our strategic review last year. This represents the most significant disposal from our General Industrial division to date, following the sales of two smaller businesses during 2009."
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