Denel media statement on Denel Asia JV


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

Denel confirms the Denel board chairman, Daniel Mantsha, did have a meeting with the minister of finance, 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 any misunderstanding between Denel and the National Treasury about the Denel Asia joint venture is resolved amicably.

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