Czech defence group CSG buys Bautzen site, plans €100M munitions push
What's the deal?
Czechoslovak Group (CSG) , a Prague-based defence company, has acquired the Gnaschwitz site in Germany's Bautzen district from explosives maker Maxam . CSG plans to produce nitroglycerin and related substances there, with ammunition to follow.
The numbers:
The company will invest €100 million in a first step and create up to 125 new jobs at the site.
Who's involved?
CSG is a European defence group employing around 14,000 people. It did not disclose the price paid for the site.
The signal:
The move deepens defence-sector investment in eastern Germany, as European producers expand munitions capacity across the continent.
Image credit: HawkeyeUK
Read more: Die Zeit
Source: dealroom
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