http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.89Change: -0.01
R/$ = 12.56Change: 0.01
Au 1097.15 $/ozChange: 1.80
Pt 988.50 $/ozChange: 5.50
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Feb 22, 2012

R700m injection for Denel

Back
Aviation|Denel|Diamonds|Mining|Water|Water
Aviation|Denel|Diamonds|Mining|Water|Water
aviation|denel|diamonds|mining|water-company|water



State-owned arms company Denel will receive a much-needed R700 million injection for its ailing aerostructure wing, Finance Minister Pravin Gordhan announced on Wednesday.

The recapitalisation of Denel Saab Aerostructures (DSA) would take effect in the new financial year (2012/13), he said.

DSA is a designer and manufacturer of complex metallic and composite plane parts for the military and commercial aviation sector.

In a press briefing late last year, Public Enterprises Minister Malusi Gigaba said DSA was the major contributor to Denel's losses, incurring a R237-million loss in 2010/11.

Gigaba tasked newly-appointed group CEO Riaz Saloojee in November with concluding the process of turning around DSA.

Gordhan also announced the allocation of R350-million to mining parastatal Alexkor, which mines diamonds on land and under water in the Alexander Bay area of the Northern Cape.

According to the 2012 Estimates of National Expenditure, tabled by Gordhan on Wednesday, the R350-million "is earmarked for transfer to Alexkor to settle any outstanding unfunded obligations under the Alexkor/Richtersveld community deed of settlement, including the tax obligation of R69.9-million".

Following a 2007 settlement with the Richtersveld community, the company's land mining rights were transferred to the Richtersveld Mining Company (RMC) in March 2011.

RMC and Alexkor formed a joint venture in which Alexkor holds a 51% stake.

The document says pumping capital into both Denel and Alexkor will dramatically push up the Public Enterprises department's spending in the coming financial year.

The department was expected to spend R1.25-billion in 2012/2013, compared to R353.3-million in 2011/2012.

This would drop back down to about R200-million leading up to 2015.

Edited by: Sapa
Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
 
Latest News
Updated 44 minutes ago This eight-page brief covers key developments in South Africa’s water sector over the past 12 months. It provides details of the state of South Africa’s water sector, planning and regulation, infrastructure, nonrevenue water and water-quality issues, as well as...
Transnet National Ports Authority CIO Mmutle Lentle
State-owned enterprise Transnet National Ports Authority’s (TNPA’s) new Web-based integrated port management system (IPMS) went live on July 26 at the Port of Durban, with crude oil tanker Colorado being the first vessel to be brought into the port using the new...
South Africa’s automotive industry is not in crisis – but there is a very real danger that inertia could see it regress into lightweight assembly rather than claim its place as a globally competitive vehicle manufacturer. Speaking at the National Localisation Indaba,...
More
 
 
Recent Research Reports
Real Economy Year Book 2015 (PDF Report)
There are very few beacons of hope on South Africa’s economic horizon. Economic growth is weak, unemployment is rising, electricity supply is insufficient to meet demand and/or spur growth, with poor prospects for many of the commodities mined and exported. However,...
Real Economy Insight: Automotive 2015 (PDF Report)
Creamer Media’s Real Economy Year Book comprises separate reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, gold, iron-ore and platinum sectors.
Real Economy Insight: Water 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Construction 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Electricity 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
Real Economy Insight: Road and Rail 2015 (PDF Report)
Creamer Media’s Real Economy Year Book has been divided into individual reports under the banner Real Economy Insight and investigates key developments in the automotive, construction, electricity, road and rail, steel, water, coal, gold, iron-ore and platinum sectors.
 
 
 
 
 
This Week's Magazine
Meyerton-based steel tank manufacturer Structa Technology is currently rolling out a water infrastructure build programme that supports local municipalities, water utilities, schools, hospitals and clinics. As a member of the Structa Group, Structa Technology proudly...
Alternative funding models could be expected to begin coming to the fore in South Africa’s renewable-energy sector as the market becomes more competitive and domestic development finance institutions (DFIs) begin scaling back their direct involvement in projects....
DIMITRI MARKOULIDES An innovation champion must involve employees in innovation projects and keep them updated to enable them to support and drive innovation and create the future of the business
An innovation champion course that trains executives to manage innovation in their organisations aims to help companies grow revenue streams and tap new markets, says business change management consultancy BMGI South Africa innovation practice lead Dimitri...
Future digital workplaces will require employees to continuously learn new “literacies”, including new media, information and technical skills, to help their company thrive and spur personal growth. Information technology (IT) research firm Gartner, thus, suggests...
Only 25% of large construction projects surveyed in KPMG’s Global Construction Project Owner’s Survey, released in June, were concluded on time and within budget over the last three years. “Every project owner wants predictability when it comes to large projects, and...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96