Denel severs links
STATE-owned arms manufacturer Denel announced yesterday that it has ended its involvement with the Gupta-linked VR Laser Asia.
Denel and VR Laser Asia had been in a joint-venture in Asia, but Denel said it exited the Asia jointventure following negative attention from the media to the detriment of its brand, both locally and internationally.
“Denel conducted continuous assessments of the untenable atmosphere caused by the establishment of this JV and took a resolution to exit the Denel Asia JV and explore alternative marketing approaches to access the Asia Pacific market,” Denel said.
“This therefore brings us to a point where we can officially report that Denel SOC has ended its involvement in the Denel Asia JV. We have exited the JV.”