 | This article needs additional citations for verification. (August 2008) |
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| Company type | State-owned enterprise |
|---|---|
| Industry | Aerospace and Defence manufacturing |
| Founded | 1992 |
| Headquarters | Centurion, City of Tshwane, Gauteng, South Africa |
Area served | Worldwide |
Key people | Michael Kgobe (CEO)[1] Carmen Le Grange (CFO) |
| Products | Missiles Cruise missiles Attack Helicopters Transport Helicopters UAVs Armoured vehicle turrets Glide bombs Artillery systems Ammunition |
| Revenue |  R 2.729 billion (FY 2020)[2] |
| R -1.5 billion loss (FY 2020)[2] | |
| R -1.9 billion loss (FY 2020)[2] | |
| Total equity | R 2.277 billion (FY 2020)[2] |
Number of employees | 3,137 (FY 2020)[2] |
| Parent | Government of South Africa |
| Website | denel |
Denel SOC Ltd is a South African state-owned aerospace and military technology conglomerate established in 1992.[3] 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.[4]
- ^ "New CEO, CFO for Denel". News24. 1 September 2022.
- ^ a b c d e "Denel 2020 Annual Report" (PDF).
- ^ "History". ArmsCor. Retrieved 23 July 2018.
- ^ "Denel at risk of collapse as money runs out". 17 February 2021.