Parsec Announces Equity Deal

We are pleased to announce that Mr Lebo Masekela has acquired a major stake (25% + 1 share) in Parsec (Pty) Ltd, a subsidiary of Parsec Holdings (Pty) Ltd.

Mr Masekela has agreed to join the company from February 2014 as an executive director, and will mainly be responsible for new markets and strategic development.

Mr Masekela brings to Parsec a wealth of experience. He has a BSc Engineering degree and has worked as a design engineer for The South African Breweries (Pty) Ltd, as a production engineer at Engen Petroleum Ltd. and as a quality manager at a division of Denel (Pty) Ltd.  Later he founded a consulting engineering firm and an electronics assembly factory.  He subsequently joined Infotech (Pty) Ltd where, as Managing Director, he built the company into a successful enterprise.  He has also served as a non-executive director for a number of companies, including Parsec (Pty) Ltd.

‘Parsec has a long association with Mr Masekela and I foresee that his deeper involvement in the company will not only enhance our commitment to broad-based economic empowerment but is also the beginning of a new phase in the development and progress of our business. His expertise and insight into the electronic engineering industry makes his permanent appointment an obvious choice. We are delighted to welcome Lebo,’ says Petrus Pelser, MD of the company.

Mr Masekela commented, “I look forward to working with the Parsec team and taking the company to greater heights.’

About Parsec (Pty) Ltd

Parsec is an electronic engineering company that develops, manufactures and supplies state-of-the-art embedded solutions to clients in the global defence / aerospace, telecommunications and industrial market sectors.

www.parsec.co.za

20140131-IMG_2147 (2)From left to right. Rynier van der Watt Managing Director of Parsec Holdings (Pty) Ltd, Lebo Masekela Executive Director of Parsec (Pty) Ltd and Petrus Pelser Managing Director of Parsec (Pty) Ltd