- Denel has reported a massive security breach

- Intellectual property relating to missile designs may have been stolen

- The company is facing a number of challenges the security breach adds to the problems at the company

PAY ATTENTION: Click “See First” under the “Following” tab to see Briefly.co.za News on your News Feed!

State-owned weapons manufacturer Denel has reported that top-secret missile plans may have been stolen after a major security breach.

This has resulted in President Cyril Ramaphosa tasking the SIU ( Special Investigations Unit) with an investigation in the breach.

Intellectual property was stolen by former employees and sold to Saudi Arabian Military Industries (Sami) according to mybroadband.co.za.

READ ALSO: Julius Malema, Ndlozi pull into the Hang Awt: Pay Shimza a visit

READ ALSO: Sho Madjozi's fame has hit new highs as she is spotted in Ivory Coast

Briefly.co.za learned that a number of experienced Denel engineers have since left the company and taken up jobs at Sami. An army general has labelled the security breach at Denel industrial espionage and the guilty parties committed treasons.

Denel is finding itself in financial at the same time adding to its woes and is struggling to pay its employees and cover the debt the company owes.

Denel CEO Daniel du Toit has laid the blame at the foot of state capture and poor management at the company.

He said that the financial troubles are a direct result of the Gupta family's influence but that they were not the only cause.

“We have to be objective in our assessment – there is also an element of mismanagement and poor efficiencies,” he said .“The effect of state capture is enormous on the organisation, which is broken and paralysed as a consequence of state capture."

Steps have been taken and legal action is going to be taken against those who have been implicated in corruption.

Denel produces a number of missiles including air-to-air missiles, air-defence missiles and anti-armour missiles.

Enjoyed reading our story? Download BRIEFLY's news app on Google Play now and stay up-to-date with major South African news!