October 11, 2019 / 7:41 AM / a month ago

South African arms firm Denel to close Aerostructures business

JOHANNESBURG, Oct 11 (Reuters) - 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. (Reporting by Alexander Winning; editing by Jason Neely)

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