The Johannesburg labour court granted two unions a warrant of execution to attach assets belonging to arms maker Denel worth R12.7m to pay outstanding salaries to its workers.

The arms maker, which is critical to SA’s defence strategy, is facing a cash crisis and has lost R4.4bn in the past three years. ..

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now