Union de­mands Denel bailout

The Citizen (KZN) - - BUSINESS -

Gov­ern­ment must ur­gently in­ject at least R7 bil­lion into strug­gling state-owned de­fence group Denel, the Na­tional Union of Me­tal­work­ers of South Africa said yes­ter­day.

Denel re­ported a R1.7 bil­lion loss for the 2017/18 fi­nan­cial year and is strug­gling to pay worker salaries and de­liver on roughly R18 bil­lion of out­stand­ing or­ders. –

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