Denel JV with Gupta ally-owned company ‘made no sense’

Former Denel board chair Martie Janse van Rensburg says the joint venture between the state armaments company and VR Laser‚ a company owned by an associate of the Gupta family‚ did not “make commercial sense”.

“The outgoing board did not consider the establishment of Denel Asia. In my opinion, if you would like to establish such a type of subsidiary in another country‚ there’s a lot of market intelligence homework that needs to be done‚” she said.

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