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Cash-strapped arms maker Denel eyes $2 bln in export deals - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Cash-strapped arms maker Denel eyes $2 bln in export deals via SABCNewsOnline

“Denel is actively pursuing a winnable order pipeline of R30 billion in the next two years, which will greatly contribute to the financial turnaround and long-term sustainability of the company,” Denel said in a statement.

“This includes an imminent export contract – the largest in Denel’s history. This contract, which includes an advance payment of R1.5 billion, has the potential to grow Denel’s order stock by 32%,” it said. On Friday, Denel received $118 million cash injection from the government to stem a deepening liquidity crunch.

 

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