Denel
Sign in to saveDenel SOC Ltd is a South African state-owned aerospace and military technology conglomerate established in 1992. It was created when the manufacturing subsidiaries of Armscor were split off in order for Armscor to become the procurement agency for the South African Defence Force (SADF), now known as the South African National Defence Force (SANDF), and the manufacturing divisions were grouped together under Denel as divisions. It is the largest of South Africa's state owned arms companies. The company had been experiencing major financial problems since 2015 and in 2021 it was announced in Par
Key facts
- Company.name
- Denel SOC Ltd
- Company.logo
- 200px
- Company.type
- State-owned enterprise
- Company.foundation
- 1992
- Company.location
- Centurion, City of Tshwane, Gauteng, South Africa
- Company.key_people
- Michael Kgobe(CEO) Carmen Le Grange(CFO)
- Company.area_served
- Worldwide
- Company.industry
- Aerospace and Defence manufacturing
- Company.products
- Missiles Cruise missiles Attack Helicopters Transport HelicoptersUAVsArmoured vehicle turretsGlide bombsArtillery systemsAmmunition
- Company.operating_income
- R -1.5 billion loss (FY 2020)
- Company.net_income
- R -1.9 billion loss (FY 2020)
- Company.equity
- R 2.277 billion (FY 2020)
- Company.num_employees
- 3,137 (FY 2020)
- Company.parent
- Government of South Africa
via Wikipedia infobox
Article
6 sectionsContents
- History
- Divisions
- Associated companies
- Financial difficulties
- References
- External links
Denel SOC Ltd is a South African state-owned aerospace and military technology conglomerate established in 1992. It was created when the manufacturing subsidiaries of Armscor were split off in order for Armscor to become the procurement agency for the South African Defence Force (SADF), now known as the South African National Defence Force (SANDF), and the manufacturing divisions were grouped together under Denel as divisions. It is the largest of South Africa's state owned arms companies. The company had been experiencing major financial problems since 2015 and in 2021 it was announced in Parliament that Denel was on the brink of insolvency. The company stated that its woes were due to declining local defence budgets, weakened relationships with key customers and suppliers, the inability to retain or attract skilled personnel, ongoing salary disputes and a Fitch ratings downgrade.
== History == Denel was established as a state-owned industrial company under the Department of Public Enterprises in April 1992. It inherited most of Armscor's production and research facilities, and over 15,000 employees. At the time of its formation, Denel restructured and reorganised the former Armscor subsidiaries into a number of divisions and subsidiaries within five industrial groups: systems, manufacturing, aerospace, informatics, and properties and engineering services.