With an impressing average growth of 40% during 1999, the Powerhouse Holdings Group is anticipating that the next 12 months will yield a further overall growth of 50%, according to forecasts by the Group's Managing Director, Earle Wainstein.
A number of factors have influenced this growth and include, but are not limited to, the following factors. The consolidation of Spectratech - headed by Sales Director Jayne Stead - has resulted in the electronic distribution company's 35% growth from a solid base during the course of last year. Powerhouse Electronics, the lightning, power and surge protection company within the Group, has also shown an impressive growth of 43%. This has been due to the company having been awarded a number of lucrative export contracts in Africa as well as an increase in the development of a number of new products. Pontech Manufacturing has shown the most marked improvement with a growth percentage of 60%. The phenomenal growth of the factory has come about as a result of the manufacture and production of new products in niche markets and the exceptional standards of quality used to ensure the product meet international requirements. In addition, the factory will be moving to new premises, almost double the size of its current location, during the early part of 2000.
On the African front, MLA, Mozambique's largest supplier of uninterruptible power supplies (UPS) has awarded Powerhouse Mozambique with the sole distributor rights to its products with immediate effect.
The partnership is set to be mutually beneficial for both companies, as Powerhouse Mozambique is able to provide both technical support and an established retail structure to further strengthen MLA's market share in the country. According to Wainstein, "We are delighted to be part of MLA's new distribution structure as this allows us to entrench ourselves in Africa and find mutually beneficial business relationships with our neighbours."
Another company under the Group's umbrella, Powerhouse Medical, is also looking forward to the challenges the next 12 months will bring. It specialises in the supply of niche products used in the medical fields of dermatology, radiology and plastic surgery.
The newest member of the Group, Powertrend, focusing on the supplying power and power semiconductors is fully operational and, according to Wainstein, is set to further bolster the Group's overall growth.
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