“It is completely untrue to allege that Denel has not taken actions to investigate transgressions and recover the money‚” said Du Toit‚ adding that Solidarity has been kept in the loop on the investigations‚ along with other stakeholders.
“We are in an advanced stage of investigations and there is no need to compel us to act through court actions.”
Du Toit said Denel employees‚ unions and other stakeholders are also kept informed about the financial position of the company and the liquidity issues‚ which had an impact on Denel’s ability to pay salaries on time for the past two months.
“We are encouraged by the positive sentiments towards Denel expressed by government and looking forward to possible decisions on the recapitalisation of the company.
“Denel remains a valuable national asset and still has the potential to play a vital role in the country’s economic future and its transition towards the 4th industrial revolution‚” said Du Toit.