Armscor Annual Report: handing over

Meeting report

ARMSCOR Annual Report : this should be available at http://www.armscor.co.za

The Executive Chairperson of ARMSCOR, Mr Ron Haywood, handed over the ARMSCOR Annual Report to the Joint Standing Committee on Defence. Mr Yengeni, Chairperson, pointed out that this was done in person as a gesture of the close relationship which the parastatal and the Joint Standing Defence Committee share and the transparent nature in which ARMSCOR conducts its business.

The Executive Chairman of ARMSCOR, Mr Ron Haywood, then proceeded to highlight a few important points which were addressed in the report. He stressed the incredibly high standard of products which the South African Defence manufacturers continue to produce. This high standard was evident through various trade shows exhibiting defence products from around the globe, where South African materials were not outdone by products from developed countries.

One of the main objectives of ARMSCOR presently, is to sell off defence stock, and in this regard South African defence products are substantially sought after, including South African de-mining equipment and technology.

Another main objective was the purchase of affordable and effective defence equipment and technology for the SANDF, including the purchasing of Corvettes and submarines for the SA Navy. In this regard, France, Britain, Germany and Spain have been shortlisted for the acquisition of Corvettes; while Germany, France, Sweden, Italy and the United Kingdom have been shortlisted for new submarines.

Mr Haywood also stressed the transparent nature in which the parastatal conducts its business, and the successful affirmative action policy followed by ARMSCOR. In this regard he stated ARMSCOR's policy of working closely with Black empowerment firms.

Finally the Executive Chairman of ARMSCOR, said that although the current Defence budget was limited, the stabilising of the budget was a positive sign because at least the Defence Department would be aware of its constraints and could therefore plan accordingly.