Powertech Transformers re-secures status as a Level 3 BBBEE Contributor

Powertech Transformers, a subsidiary of Powertech and the JSE listed Altron Group is pleased to announce that, in an audit conducted by independent BBBEE accreditor, Empowerdex, it re-secured the status as a level 3 BBBEE contributor, equivalent to an AA rating in terms of the Department of Trade & Industrys Codes of Good Practice (DTI Codes).  The audit was completed in June 2013.Powertech Transformers recognises the importance of transformation, not only within the company but also within the broader South African business environment. Its objective was to retain its “Level 3” contributor status in terms of the DTI Codes and in attaining the overall score of 81.42% (which is an increase from the previous score of 76.37%) or an “AA” rating is an enormous achievement for the company despite the challenges in the market presently. Scores increased particularly under the black ownership and black management criteria.  This means that its customers will now be able to claim 110% of procurement spend for their own black economic empowerment rating.Bernard Meyer, CEO Powertech Transformers says, Powertech Transformers is considered a world class transformer manufacturer and a leader in transformation. The Empowerdex rating emphasises our total commitment to Broad Based Black Economic Empowerment and thus to transforming the South African workplace.Powertech Transformers objective for the next audit is to improve on its existing rating and plans have been introduced to improve on scores where the business has not attained full points in terms of the DTI Codes.PTT supplies a full range of transformers, from generator step-up to transmission and distribution transformers in their three factories. The range includes three-phase and single-phase units, auto-transformers, arc-furnace, locomotive and traction transformers, miniature sub-stations, NECRTs as well as LNERs and shunt reactors.