Solidarity starts auctioning Denel assets for debt of R90 million

14 July 2022

Solidarity will continue with the first of several auctions of Denel’s assets on Friday, 15 July 2022. This follows after Solidarity seized these assets earlier this year due to Denel’s failure to pay about R90 million in debt to Solidarity members in terms of a court order. 

Solidarity argues that the seizure and auctioning of assets is now the only option after Denel violated several agreements between the parties.  

“This auction covers only a small part of our claim, but this is merely the first phase. We have also seized Denel Corporate’s bank account and more auctions will follow until we finally obtain the full amount,” said Helgard Cronjé, Deputy General Secretary of the Public Sector at Solidarity. 

According to Solidarity, some of the employees at Denel had to make do with only partial and sometimes no salary payments for more than two years. 

“Denel has taken away far too much from our members. It is unacceptable that ordinary workers have to sacrifice their livelihoods simply because of the indecision and negligence of the company’s shareholder, the state. This is intolerable and steps must be taken against this. The message is now clear: If Denel does not want to pay, then we will get our members their due through the seizure and auctioning of Denel’s assets,” Cronjé concluded. 

The auction will take place on Friday, 15 July 2022 at 10:00 at Denel's head office situated at 368 Selbourne Avenue in Lyttelton, Centurion.

Issued by Derek Mans, Sector Coordinator: Defence & Aerospace, Solidarity, 14 July 2022