Ittur now 100 % owner of NEC
Ittur Namibia Investment who has been the 55% owner of NEC Investment Holdings since 2007 has now acquired the remaining 45% shareholding from Andreas and Niko Brückner.
Ittur Namibia Investment is a Namibian Investment Holding Company owned by Mr. Johan Hansen with various investments in Namibia.
NEC Investment Holdings (Namibia Engineering Corporation) which was founded by Mr. Albi Brückner in 1958 has two divisions, namely NEC STAHL and NEC Power and Pumps.
NEC STAHL does steel manufacturing and maintenance for the mining industry, as well as larger projects in steel and has workshops in Swakopmund, Okahandja, Langer Heinrich Uranium and Rössing.
NEC Power and Pumps provides energy solutions related to solar panels, generators and other electronic equipment and pumping installations. They also do solutions for hot water from solar panels.
At the same time NEC also sold its division, NAR (Namibian Armature Rewinding) to the South African Private Equity ACTOM. NAR provides a rewinding service for all types of electrical motors for different industries and had been part of the NEC group since 1987.
ACTOM will now continue to develop NAR together with their South African operations in the same business areas.
ACTOM took over the NAR operation beginning of July.
Whilst NEC Stahl changed their brand name to STAHL, NEC Power and Pumps will continue to operate under same name.