The CSG Group, one of the largest producers of large-caliber ammunition in Europe and a major player in the European defense industry, is moving forward with the creation of a strategic joint venture with Hellenic Defence Systems.
One of the largest companies in the world’s leading European defense industry.
The joint venture aims to revitalize domestic defense production and upgrade the role of the Hellenic Defence Industry in the entire region.
The joint venture between the NAC and the CSG Group is the first public-private partnership in the Defence sector, along the lines of defense industries abroad. The CSG Group’s ambition is through the investment to enhance the production capabilities and competitiveness of NAC, with a view to a more sustainable future for the company.
A sign of confidence in the defense industry
The investment, according to the CSCG Group, is a vote of confidence in the promising future of the Greek defense industry, an industry with a long history and tradition that over the years has lost a significant part of its added value for the country. After a long period of stagnation due to the economic crisis, Greece is prioritizing the domestic production of ammunition, following the example of major European countries, and the collaboration with CSG Group will act as a catalyst in the implementation of this strategic decision.
By combining the CSG Group’s high expertise and cutting-edge technology with the vast unexplored potential of domestic defense production, the joint venture envisions the transformation of the Hellenic Defense Industry into a leader in pan-European large-caliber ammunition production. Through the joint venture, Greece is expected to become only the 2nd country in Europe to produce TNT for 155mm projectile priming.
By gaining access to the CSG Group’s broad customer portfolio, as well as its extensive distribution network, EAS has the opportunity to acquire an active export activity, complementary to meeting the needs of the Greek Army, which will always come first and which is currently the company’s main customer. The ambition of the joint venture is that in the future production will move on to other products in high demand in Europe, such as explosives and propellants.
Supporting the new doctrine of European security
The CSG Group is a reliable partner for European security, being one of the largest producers of large-caliber ammunition, but also one of the most important investors in developing Europe’s production capacities for such critical defense material.
With the investment in the Lavrion plant, co-financed by the European Union through the ASAP (Act in Support of Ammunition Production) program, NAC and the CSG Group are supporting Europe’s strategic autonomy in ammunition, reducing its dependence on external suppliers.
CSSG aims to become a major employer in the Greek industry
The leading group is making a long-term investment in the Hellenic Defense Industry, through which it intends to create new, well-paying jobs in a sector that has been stagnant for years and which is critical for a country like Greece, which has complex foreign relations and balances in the international and regional geopolitical arena.
It is worth noting that the procedures for the recruitment of 50 new employees to staff the production capacities of the Lavrion plant have already started.
CSG Group has set its sights on repeating in Greece the success story of Fábrica de municiones de Granada (FMG) in Spain, in which it invested in 2020 and within four years tripled its workforce, expanded its production and significantly increased its revenues and profits.
An investment – a vote of confidence in the national economy
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The strategic choice of the CSG Group, a group with a presence in more than 70 countries, with more than 100 subsidiaries and over 10,000 employees, to invest in the country’s industrial production actively recognizes Greece as an attractive investment destination, while underlining the growth potential of the domestic defense sector. By proceeding with this strategic investment move, CSG Group will also contribute to strengthening investor confidence in the national economy more broadly, as the joint venture aims to reverse the narrative of a loss-making state-owned enterprise through an investment that will benefit public finances, national security, the Armed Forces and the local community of Lavrio.
Who is the CSG Group
The global industrial and technology group CSG, owned by Czech entrepreneur Michal Strnad, has major production facilities in the Czech Republic, Slovakia, Slovakia, Spain, Italy, India, the United Kingdom, and the United States and exports its products around the world. CSG is continually investing in the growth of its companies while expanding in its core business areas.
The Group owns, for example, the Czech truck manufacturer Tatra Trucks, the world’s leading small-caliber ammunition manufacturer Fiocchi, and the Czech radar manufacturer Eldis.
More than 10,000 employees work in the companies belonging to the CSG group and its affiliated companies. In 2023, the group’s consolidated sales amounted to EUR 1.73 billion. The CSG Group’s main business sectors are engineering, automotive, railways, aerospace, and defense, as well as the production of small caliber ammunition. CSG’s products are found on all continents thanks to its strong export orientation.
