Denel to exit some businesses within months
Denel has not yet released financial results for the 2018/2019 financial year, but is projected to be insolvent
06 September 2019 - 15:26
Struggling state-owned defence company Denel aims to begin disposing of equity stakes and exiting loss-making businesses within months as part of its turnaround strategy, it told a parliamentary committee.
Denel, which makes ammunition, missiles and armoured vehicles for SA and customers elsewhere in Africa, the Gulf and Europe, received a R1.8bn cash injection from the government at the end of August after struggling to pay salaries and suppliers...
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