Business is booming in warplanes, missiles, and helicopters for Portuguese arms traders like Luis Nogueira. This former in the Portuguese Marines is one of a handful of Lisbon-based arms dealers, many of whom have been in business for decades. At the first scent of war in the Gulf, several of them came scurrying around to the Iraqi Embassy, catalogues in hand, to peddle their wares....
He admits that earlier this year he gave the South Africans a design to convert water cannons for riot control into lethal instruments capable of transmitting high-voltage electric shocks through the jet of water. But that was just a favor for a friend.
Mr. Nogueira's family runs a string of arms-dealing companies from its office in a dingsy Lisbon office block
Informed sources in the arms trade allege that Mr. Nogueira arranged the sale of French antitank missiles and Belgian antiaircraft guns to Iraq last summer.
The arms dealers divert a large slice of Portugal's official exports to clandestine customers as well.
Over the past two years, about $15 million worth of arms and ammunition issued with export licenses for Gabon, Thailand, and Pakistan has vanished after leavint the Lisbon dockside. It was never ordered by these countries nor delivered, but much is thought to end up in South Africa.

http://www.csmonitor.com/1980/1112/111248.html