SAMI continues partnership talks with South Africa's Denel after rebuff

16th July 2019

By: Reuters

  

Font size: - +

Saudi Arabia's State defence company is continuing to hold commercial partnership talks with South Africa's Denel, which said this month it would not sell a stake to the Saudi firm.

Denel CE Danie du Toit told Reuters the State-owned company was open to partnerships but would not sell equity or relinquish intellectual property rights to SAMI, which last year made a $1-billion bid for a broad partnership.

"We have ongoing talks," Saudi Arabian Military Industries (SAMI) CE Andreas Schwer told Reuters on Monday.

"Acquiring a stake is just one option but various options are still there."

He said that included partnering on programmes or working on greenfield projects.

SAMI, established in 2017, is mandated to develop a commercially sustainable defence industry in Saudi Arabia.

It has signed over two dozen agreements with international companies to develop the domestic industry, and this month it was announced SAMI would collaborate with South African private defence firm Paramount Group.

Saudi Arabia and its allies account for almost half of South Africa's recent arms exports and a significant portion of future orders.

Edited by Reuters

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION