Paramount Group sells first SA-made military aircraft since 1980s
The Paramount Group has produced and sold the first military aircraft made in South Africa since the 1980s when state-owned arms maker Denel SOC Ltd. unveiled the Rooivalk, or red falcon, attack helicopter.
Africa’s biggest...
Meltdown at Denel
Denel is in a financial meltdown with debt of around R3.5 billion and cumulative losses of nearly R5 billion over the last few years.
The once-proud arms manufacturer, with great products like the Rooivalk attack helicopter and the G6 self-propelled howitzer, has been gutted.
A former aircraft instrument fitter has to pay Denel Aviation more than R1.8 million for smashing equipment with a hammer in a fit of rage, according to a report on Tuesday.
Denel Aviation obtained an order in the High Court in Pretoria to deduct R1.84m from William Carrington's pension fund...