Struggling Denel gets a shot in the arm
Nato’s ammo needs are a boost for SA company’s German joint venture
13 June 2024 - 05:00
Though state-owned arms manufacturer Denel has been struggling for years, its ammunition manufacturing joint venture with German-owned arms maker Rheinmetall is shooting the lights out.
Rheinmetall Denel Munition, which is based in Somerset West, east of Cape Town, saw net income for the year to end-December 2022 surge to €22.4m from €2.7m the previous year...
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