Johannesburg, 14 Feb 2014
Parsec aims to expand its products into Africa, double its revenue base, and boost its staff count over the next five years on the back of a recent empowerment deal.
The high-end electronics manufacturing company, based in Centurion, sees its involvement with Lebo Masekela as a way of taking it to the next level by adding more entrepreneurial skill to the company.
MD Petrus Pelser says the company, started about two decades ago, has reached a point where it needed a stimulus for further growth. He explains the empowerment deal, in which Masekela bought 25% and a share, gives the company new blood to guide it to more growth avenues.
Masekela has agreed to join the firm from February 2014 as an executive director, and will mainly be responsible for new markets and strategic development.
Pelser explains Parsec operates in the hi-tech space, and does contract manufacturing and development for its clients in the aerospace, mining and telecommunication sectors. The company’s products include high-end PC boards and security solutions.
Currently, about half the products it makes end up being shipped outside of SA, although its revenue is mostly earned locally. Pelser says the group, which has about 120 staff, of which 40 are engineers, aims to double revenue in the next five years by tapping into new markets.
Parsec aims to move into Africa “aggressively”, but had not previously had a clear idea of how to engage the continent with its technology, says Pelser. He adds the company is active in SA, the Middle East and parts of Europe. “Africa should be high on our priority list.”
Pelser says Parsec hopes to leverage its engineering skills to grow in Africa as most contract manufacturers do not have the ability to develop products. “We definitely don’t fit the contract manufacturing mode.”
Should the company achieve its revenue aims, it seeks to add between 30 and 40 staff, says Pelser.
Telecoms is also an area the company wants to grow into, says Pelser, adding Parsec usually works with sister company Redline to target this sector. He notes information security in mining is also an arena into which the company wants to push its solutions.