JSE-listed Altron can confirm that its Altech UEC, Altech Multimedia and Arrow Altech Distribution (AAD) businesses were the subject of a search and seizure operation by the Competition Commission on 16 November 2017. AAD is jointly owned by Arrow Electronics Inc. and Altron.
The Competition Commission is investigating alleged prohibited practices as specified in the Competition Act related to cartel conduct in terms of section 4(1)(b). This investigation is with respect to a set-top box tender issued in 2014 as part of Government’s Digital Terrestrial Television (DTT) migration programme.
The Altron businesses and 12 other companies were simultaneously part of the search and seizure operation on the day.
“Earlier this year Altech UEC, responded to the Competition Commission with regard to an investigation into the tender and it, as well as Altech Multimedia and Arrow Altech Distribution, will continue to co-operate with the authorities in connection with its investigations”, said Zipporah Maubane, Group Executive Marketing and Investor Relations.
“Altech UEC, which we are in the process of selling as it’s no longer a core asset to our business strategy, was unsuccessful in its bid for the tender,” she added.
The Altron Group and its subsidiaries obey laws and regulations of all countries in which it operates, including upholding the provisions of South Africa’s Competition Act. Altron is a values-driven company with a stringent business code of conduct and does not condone, support or encourage any action on the part of any of its employees that contravenes the law.