• Voter paralysis

    With so much tilting voters against change, democratic reason is the loser, says Solly Moeng.

  • The power of perseverance

    True grit is a reliable predictor of who will achieve success in life, says Ian Mann.

  • It's the system

    The system sucks and it’s being used far too often as an excuse, says Mandi Smallhorne.

All data is delayed
See More

New Denel-Airbus agreement signed

Sep 17 2012 16:56
Johannesburg - Arms manufacturer Denel Aerostructures and Airbus Military have signed a new agreement on aircraft components for the A400M military transport.

The contract provided Denel with the know-how and capacity to participate in future multinational ventures, Denel group chief executive Riaz Saloojee said on Monday.

The deal was endorsed in Kempton Park earlier in the day in the presence of Public Enterprises Minister Malusi Gigaba.

Gigaba said: "The relationship between Airbus and Denel takes us another step further towards the growth of a fully-fledged South African aerospace industry."

Senior vice president commercial of Airbus Military Antonio Rodriguez-Barberan, said the agreement re-affirmed his company's commitment to South Africa.

"With series production of the A400M ramping up ahead of the first deliveries next year, it is comforting to know that we have a dependable partner in Denel Aerostructures, which can be relied upon to provide top quality work, on-time, and within budget," he said.

Denel Aerostructures produces two major parts of the A400M - the wing-to-fuselage fairing and the top shells, which form part of the mainframe.

Earlier this year, government gave Denel a R700m capital injection.

"This agreement has vindicated (government's) confidence and confirmed the viability and inherent potential of Denel Aerostructures in the years ahead," Saloojee said.

*Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.
airbus  |  denel  |  malusi gigaba


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


Debt is one of the biggest financial issues facing South Africans today. Find out how you can avoid and manage your debt with Fin24 and Debt Rescue.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Would you take out a payday loan?

Previous results · Suggest a vote