The knock-on effect of the collapse of South Africa's Denel

摘要

The South African state-owned arms company Denel,which is in dire financial straits and has been undergoinga major restructuring since August, is facing a series ofsummonses from unpaid suppliers while hoping for apotential rescue plan from the South African Departmentof Public Enterprises, the company's soleshareholder. Already, most of the engineers in itslucrative maritime and air divisions have deserted thegroup and joined various state-owned companies in theMiddle East, notably in the United Arab Emirates andSaudi Arabia, two countries eager to develop their localdefence industries.