ALTECH NETSTAR ANNOUNCES B-BBEE LEVEL 2 STATUS

ALTECH NETSTAR ANNOUNCES B-BBEE LEVEL 2 STATUS:

Following its annual Broad-Based Black Economic Empowerment verification by NERA (the National Empowerment Rating Agency), Altech Netstar has improved its position to that of a Level Two contributor, with value added supplier status. It previously enjoyed a Level Three contributor position.

Harry Louw, Managing Director of Altech Netstar, is delighted with the achievement. “We have developed strong actions around each of the pillars of the B-BBEE scorecard over the last few years. Our equity partners, Thebe Investment Corporation and Identity Partners, have played a significant role in driving Altech Netstar’s transformation strategy. The successful implementation of Altech Netstar’s transformation ensured that we achieved maximum scores on some of the B-BBEE scorecard pillars. Our deep-rooted philosophy, based on the Altron transformation strategy, of driving employment equity and empowering our staff through skills development, has also paid off handsomely.”

The Level Two rating places Altech Netstar at a distinct advantage to its main competitors, particularly in tendering for Government contracts. Louw says that “much hard work lies ahead, not only to maintain this industry-leading position, but to improve on it”.

ENDS

Note to Editors
Altech Netstar pioneered the stolen vehicle tracking and recovery industry in South Africa in 1994, and is a market leader in terms of size, product range, and an unsurpassed private recovery infrastructure.

Owned by the JSE listed Altech Group and a member of the Altron Group, Altech Netstar is based in Midrand, with regional offices in Durban and Cape Town and branches in Port Elizabeth, Rustenburg, Richards Bay, Newcastle, Witbank, Bloemfontein, Polokwane and Nelspruit.

Over 12,000 Altech Netstar tracking systems are installed per month, through a network of over 100 fitment centres around the country.

Altech Netstar operations extend into 19 countries in Africa. It has also established a successful operation in Malaysia.