Denel to close Aerostructures business  

South Africa’s Denel is winding up its Aerostructures business unit as part of a long-term strategy to return to profitability, the state arms firm said on Friday.

Some 230 employees will be affected by the decision to close the unit, it said in a statement.

Some employees will be transferred to other positions within Denel and voluntary severance packages have been offered, Denel said.