Defence firm CSG to invest over $92 mln in expansion including ammunition output

Arms maker Czechoslovak Group (CSG) will invest more than 2 billion crowns ($92.30 million) into expanding and modernising its Czech and Slovak operations, including artillery ammunition maker MSM Group, the company said on Monday.

Arms maker Czechoslovak Group (CSG) will invest more than 2 billion crowns ($92.30 million) into expanding and modernising its Czech and Slovak operations, including artillery ammunition maker MSM Group, the company said on Monday. The privately held CSG has seen its revenue and profits soar since Russia's invasion of Ukraine as demand for heavy military equipment and ammunition to ship to Ukraine soared.

The company said the major part of its planned investment, 1.2 billion crowns, would go into MSM Group's operations at three locations in Slovakia. MSM is one of Europe's leading artillery production firms. "MSM Group aims to raise effectiveness and automatisation, which will make production safer, more flexible, simple, more productive and faster," CSG said in a press release.

Other investments include new production facilities at heavy truck maker Tatra Defence Vehicle, and heavy military equipment production and upgrade firm Excalibur Army. Overall, the investment will lead to 300 new jobs, it said.

 

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