Denel has actively started the process to dispose of its Gear Ratio division, with a call to prospective bidders under what it calls Project Emerald.
A notice to interested bidders was published in Business Day on 1 October states that, “in accordance with its strategic plans, Denel SOC Limited (Denel), has decided to embark upon a divestiture programme whereby it will dispose of its interest in Denel Gear Ratio from Denel Vehicle Systems (Ply) Ltd, a subsidiary of Denel SOC Ltd.”
Prospective bidders who would like to participate in the process are requested to register their interest by emailing [email protected], with a closing date of 11 October 2021.
Denel stated that interested bidders must have the necessary funding and proof thereof to conclude a transaction of this nature and in a timeous manner.
Interested bidders must be an investor/company in good standing and |should demonstrate the requisite knowledge of the industry in which Denel Gear Ratio operates.”
Interested parties will be provided with the full details of the selection criteria and submission process on 18 October.
The disposal is in line with Denel’s latest 5.Y turnaround strategy.
Denel Gear Ratio specialises in manufacturing items like axles (such as making Casspir axles under license), maintaining Rooikat and G6 power packs, refurbishing Casspir and Mamba axles, Olifant transmission systems etc. In addition, Gear Ratio does commercial work (50%), mainly for Bell trucks.