Denel seeks ‘amicable’ solution to Treasury spat

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Denel seeks ‘amicable’ solution to Treasury spat

Tmg Digital | 2017-05-16 11:34:39.0

South African Finance Minister Malusi Gigaba speaks to journalists at the World Economic Forum on Africa 2017 meeting in Durban

Denel said in a statement that it had met with finance minister Malusi Gigaba. File photo.

Image by: ROGAN WARD
/

REUTERS

State arms manufacturer Denel said on Tuesday that it wanted an amicable resolution to the spat between itself and National Treasury‚ which has opposed a joint venture with the Gupta-linked company VR Laser Asia.

Denel said in a statement that it had met with finance minister Malusi Gigaba‚ who has reportedly called for the deal to be abandoned.

Denel said Gigaba and public enterprises minister Lynne Brown would now meet to “discuss relevant issues”.

“Also‚ Denel SOC will continue to engage with the National Treasury directly to ensure that any misunderstanding between Denel and the National Treasury about the Denel Asia joint venture is resolved amicably‚” it said in a statement.

“Denel still maintains that the Asia-Pacific region is an extremely important region for Denel to expand its business and find new markets for our world-class products‚ especially in the fields of artillery‚ armoured vehicles‚ missiles and unmanned aerial vehicles.”



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