SGB-SMIT, a pure-play transformer specialist from Europe and Power Matla, a locally owned black empowered company with investments mainly within the renewable energy, ICT, mining and power utilities markets, have announced the launch of their new company, SGB-SMIT Power Matla.
The newcomer, originally Powertech Transformers (PTT), will continue to operate out of its two factories in Pretoria and Cape Town.
“Government has supported the local transformer manufacturing industry by designating the sector through its minimum local content drive for all classes of transformers and reactors,” said Bernard Meyer, SGB-SMIT Power Matla Chief Executive Officer.
“We as PTT had built on that trust by committing to skills transfer and technology through SGB-SMIT whilst answering the call for black industrialisation through Power Matla. The Level 1 B-BBEE accreditation status achieved in March 2018 will also be maintained in the new company.”
He added that the purchase of Powertech Transformers confirmed SGB-SMIT‘s continued interest in the local and African market and in ensuring the sustainability of locally manufactured transformers.
“This will allow the new transformer company to maintain its leadership position through full access to SGB-SMIT’s technology for power, distribution and dry-type transformers ranging from 16 kVA to 795 MVA.”
Jan Ölscher, CEO of SGB-SMIT, said, “Being close to our customers lies at the heart of SGB-SMIT Group. In this spirit, the investment into Powertech Transformers is a decisive step to extend our global reach and establish a local presence in Southern Africa. With our partner Power Matla, we will strengthen Powertech Transformers as the leading supplier of transformers in the region. We look forward to working with them and continuing our growth story together.”
Power Matla began its participation in the transformer business as early as 1999 in Desta Power Transformers. “We began this journey with an ambitious goal and a vision to build an African power and energy market leader, focusing on clean energy solutions and complementary products across the sector value chain. This partnership aligns and supports the Power Matla vision to grow further within the African continent,” said Kgathola Ngoasheng, Power Matla Chief Executive.
‘’The Powertech Transformer business has a long and successful history spanning more than 70 years. The strategic partnership with SGB-SMIT is a natural one, given the complimentary synergies and strengths between the companies and the growth opportunities in Africa, using South Africa as the base country.”