Czechoslovak Group to Invest Millions in Ukraine’s Defense Industry

The Czech company Czechoslovak Group is investing millions in the creation of joint defense enterprises in Ukraine to support the defense sector in the country.

Bnn reported on this.

Czechoslovak Group (CSG), a leading European ammunition manufacturer, announced plans to establish joint ventures in Ukraine, aiming to invest substantially in Ukraine’s defense capabilities.

Michal Strnad, CSG’s owner, disclosed the initiative to journalists, highlighting the focus on artillery ammunition.

In addition, the company plans to produce other defense products in Ukraine, such as spare parts for armored vehicles, armored steel products, etc.

It should be noted that after the start of Russia’s full-scale invasion of Ukraine, the Czechoslovak Group repaired and modernized T-72 tanks, which it then sent to Ukraine.

In 2022, the company was able to ensure a high level of profit, and now plans to invest in joint ventures in Ukraine.

Despite these plans, the company’s representatives face problems in their implementation. This is primarily due to the constant shelling of Ukrainian territory, which endangers both employees and the company itself.

Despite this, Michal Strnad is positive and notes that defense cooperation between Ukraine and the Czech Republic is only getting stronger.

As Militarnyi previously reported, Germany will allocate a “three-digit million-dollar sum” to support the Czech initiative to purchase 800,000 shells for Ukraine.

Steffen Hebestreit, the spokesman for the German government, made the corresponding statement, he called this initiative “very good”.

Previously, some European countries joined this initiative, including Lithuania, France, Belgium, and the Netherlands.