Working for Denel – A struggle for survival

Hanno Labuschagne

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Working for Denel – A struggle for survival

Denel is in a death spiral. Its finances are a mess, its top management has left the company, and technical skills and valuable IP are walking out the front door.

Denel executives recently told Parliament the company remains rooted in a liquidity crisis and its order book is significantly exposed to risk.

Its financial situation is so dire that banks and financial institutions are no longer willing to provide facilities that are needed for operations and winning new business.
 

R13...

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Waiting for the socialist here to explain way this one failed.
I'm no socialist but I think they failed due to:
- poor management, corruption
- competition
- competitors poaching their staff and IP
- reduced military spending by government

They got propped up a bit when government bought those weapons years ago.
 

R13...

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Next time they will do better, right?
Unlikely given the staff stealing IP and then working for the competition stuff I describe above. Why would anyone but your product when they can steal your blueprints and people and then make same stuff to sell on?
 

BBSA

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Unlikely given the staff stealing IP and then working for the competition stuff I describe above. Why would anyone but your product when they can steal your blueprints and people and then make same stuff to sell on?
Let's just hope there is not going to be a next one, but I'm not holding my breath.
 

R13...

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Let's just hope there is not going to be a next one, but I'm not holding my breath.
It doesn't look like government care if Denel survives or goes under. I think that's because there are no ANC allied unions there. Solidarity have been the ones fighting for workers and they are unfortunately seen as the "enemy" by the comrades. So no you likely don't have to worry about "more socialism".
 

BBSA

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It doesn't look like government care if Denel survives or goes under. I think that's because there are no ANC allied unions there. Solidarity have been the ones fighting for workers and they are unfortunately seen as the "enemy" by the comrades. So no you likely don't have to worry about "more socialism".
What a relief, can I also relax about more socialism in the form of a state owned bank?
 

R13...

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What a relief, can I also relax about more socialism in the form of a state owned bank?
Not sure about the state Bank. But cde, when are you changing your name from bbsa? Did you love the show that much?
 
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