Sep 26 2008

SA weapons boost German firm’s bottom line

Published by at 9:48 pm under Companies

First published on my old blog on 13/8/2008. 

Last night I wrote about Denel and its successful boss Shaun Liebenberg, who recently joined German firm Rheinmetall as head of international business development (see article below), and this morning the Financial Times Deutschland (FTD) reported on Rheinmetall’s financial results (first 6 months of this year).

The message in the FTD: The weapons and ammunition side of the Rheinmetall business put in a solid performance, while the other side (car parts manufacturing) disappointed. To the point, where the non-weapons and munition side of the business had to cut 250 jobs. 

As I wrote below, Rheinmetall holds 51% in the weapons and munition firm Denel Munitions. 

So, let it not be said the South African/German economic relationship is a one-directional one. 

The other observation: Interesting that the world’s number one machine-building nation found SA’s weapons manufacturer worth having…

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