Czech arms manufacturer Czechoslovak Group (CSG) has started licensed production of large-caliber ammunition in Ukraine with local partner Ukrainska Bronetechnika, CSG announced on Thursday.
Rising demand for ammunition and military equipment since Russia’s invasion of Ukraine in 2022 has fueled the rapid growth of CSG, which is considering an initial public offering that could value the group at tens of billions of euros.
– We are proud to be one of the first Western companies that successfully transferred the production of large-caliber ammunition to Ukraine – said David Chour, vice president of the management.
According to the agreement, which was announced a year ago and in which CSG provides the license and know-how, the initial production capacity will be 100,000 155 mm rounds and 50,000 105 mm rounds per year. It is expected to increase in the coming years, CSG said.
The company took a leading role in the Czech initiative to supply hundreds of thousands of grenades to Ukraine. However, it is not clear whether this initiative will continue under the new government of populist billionaire Andrej Babiš, reports Reuters.
(Vijesti.ba / FENA)
