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The woes of struggling arms manufacturer Denel and its employees have just become even more dismal. Management notified the 400 employees of Denel Vehicle Systems (DVS) in a text message on Tuesday night that Denel has suspended all contributions to their medical aid contributions with immediate effect.
State arms manufacturer Denel went from making hundreds of millions in profit a mere seven years ago, to being technically insolvent today.
An employee at state arms manufacturer Denel is desperately trying to sell his remaining car to get money to pay some of his debts, including a bond that was last serviced eight months ago.
The scathing report looks into how the Guptas captured SA’s defence manufacturer Denel through the procurement of the Gauteng-based defence manufacturing company VR Laser in 2014.
Need to catch up on the juicy bits from the second part of the state capture report? We've got you covered