Denel nets R8 billion arms deal contract

May 17, 2007

Arms manufacturer Denel has been awarded an R8 billion contract to manufacture 264 new generation infantry vehicles for the South African army..

The deal, referred to as Project "Hoefyster" is the largest contract Denel has landed in its 16-year history. Announcing the new contract in Cape Town today, Shaun Liebenburg, the group CEO, said SMMEs and BEE companies will be preferred subcontractors, with guaranteed business for the next 10 years. The first vehicles will be completed within seven years.

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