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Beers & Burgers: Harvey's To Go | SaltWire #harveys #burger #beer #foodbloggerPRAGUE - Michal Strnad, who a decade ago became head of CSG, a family defence business, is closing in on buying U.S. ammunitions maker Kinetic Group that will transform a company that started by buying tanks for scrap into a key player in the global arms market.
Vista Outdoor has agreed to the CSG bid, which needs clearance from shareholders in May, and approval from Committee on Foreign Investment in the United States. Taken together with the 2022 acquisition 70% of Italy's small-calibre ammunition maker Fiocchi Munizioni, the deal would make CSG the biggest player in that market in the world outside China and Russia, Strnad said.
"I finished school when I was 18… at 1 p.m. I got in the car and went to the factory to work," said Strnad whose first job at the company was working in a storage warehouse with his grandmother during summer holidays when he was just 13. Strnad said the company plans to tap its war chest for some additional acquisitions, though nothing the scale of Vista.
He said the company now had a backlog of artillery orders for six years and was investing further into new capacity at its plants in Slovakia, Spain and Serbia.
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