Reunert has withdrawn its defence business from the market after failing to secure a good enough offer.Reutech CEO Gerrit “Boel” Pretorius has reversed a decision taken last year to sell the company`s defence business.
Pretorius last June placed the businesses, comprising Reunert Technology Systems, commonly known as Reutech, on the market and invited bids.
At the time, Pretorius said the companies were profitable, but non-core. Yesterday, he said this was still the case. A range of local and international companies bid for the businesses, including Saab Grintek.
However, none made an offer that impressed Pretorius. “Although Reutech remains non-core, it would be insane to give away a profitable business.”
He adds Reunert will invest in the business as and when required.
The companies include Reutech Radar Systems, RDL Technologies, RDI Communications and Fuchs Electronics. In addition to radars, the companies supply the South African and other militaries with hardware- and software-driven radio equipment, fire control systems and computerised logistics solutions.