Denel has noted media reports with regards to the National Treasury (NT) views on the new venture company Denel has entered into as a vehicle to penetrate the Asia-Pacific markets.

Denel confirms that the Denel Board Chairman, Mr Daniel Mantsha did have a meeting with the Minister of Finance, Mr Malusi Gigaba in Durban recently. This will be followed up by a meeting between the minister of Finance and the Minister of Public Enterprises to discuss all the relevant issues. Also, Denel SOC will continue to engage with the National Treasury directly to ensure that any misunderstanding between Denel and the National Treasury about the Denel Asia joint venture is resolved amicably.

Denel still maintains that the Asia-Pacific region is an extremely important region for Denel to expand its business and find new markets for our world-class products, especially in the fields of artillery, armoured vehicles, missiles and unmanned aerial vehicles.

Ends

For further information, contact:

Pam Malinda

Cell: +27 (0) 82 686 2198
Tel: +27 (0) 12 671 2662
email: pamm@denel.co.za

Please share on: