PRAGUE, Dec 23 (Reuters) - Arms and ammunition maker Czechoslovak Group has signed a framework agreement with Slovakia's defence ministry to supply up to 1,289 military trucks in a deal worth
CSG Secures $1.2 Billion Military Truck Deal with Slovakia
PRAGUE, Dec 23 (Reuters) - Arms and ammunition maker Czechoslovak Group has signed a framework agreement with Slovakia's defence ministry to supply up to 1,289 military trucks in a deal worth potentially as much as 1.03 billion euros ($1.2 billion) over the coming years, CSG said on Tuesday.
The Czech-based company has been rapidly growing due mainly to increased demand for artillery shells and military equipment by Ukraine and European countries following Russia's invasion of Ukraine in 2022.
It has also expanded its production of heavy military equipment and made acquisitions across Europe and the United States.
CSG, which said in September it was considering an initial public offering, said the contract with the Slovak defence ministry was for long-term supply of various types of trucks based on its Tatra Force platform.
In recent weeks, the company announced orders worth potentially billions of euros including making hulls for Leopard 2A8 tanks for their producer KNDS, a framework deal with the Slovak government for a large-calibre ammunition sales platform for European countries, and supplies of ammunition and 4,000 trucks to Asia.
($1 = 0.8495 euros)
(Reporting by Jan Lopatka; Editing by Emelia Sithole-Matarise)
