Slovak division of CSG defense group is launching ammunition production project in the USA
- 7 hours ago
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The Slovak division of CSG defense group (Michal Strnad) is launching an ammunition production project in the US. The US Army will provide it with $635m to build production capacity that, after the old plant in Iowa is rebuilt, will produce 432,000 155mm shells annually starting in 2029. The plant will remain owned by the US Army.
CSG is investing in Slovakia with the aim of producing over 1m 155mm shells annually. MSM, the parent company of the Slovak part of CSG, reported a net profit of €217m last year. The year before, it was €80m. The profit stems mainly from the production and re-export of ammunition.
