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Regional defence and heavy machinery conglomerate Czechoslovak Group (CSG) expanded into the Unmanned Aerial Systems sector by acquiring a majority of MUST Solutions, Serbian producer of propulsion systems for drones.
“The acquisition of MUST Solutions represents the first tangible step in implementing our UAS strategy, which we announced with the establishment of AviaNera Technologies,” CSG owner Michal Strnad commented in the company press release.
“Our goal is to acquire cutting-edge technologies and know-how in the field of propulsion systems, which are a key component—and often a bottleneck—in the development and production of modern unmanned platforms,” Strnad added.
CSG acquired 51% of MUST Solutions, founded and owned by Vladimir Jazarević, through its AviaNera Technologies. The financial details of the transaction have not been disclosed.
CSG has been on a shopping spree propelled by its boosted sales following the Russian full scale invasion of Ukraine in 2022 as well as armed conflicts in the Middle East and Africa.
On its home market in Czechia, CSG also acquired the Zlín-based producer of hydraulic systems Hydraulics, Czech online news outlet Seznam Zprávy reported.
As bne IntelliNews reported last month, CSG could also be ending its rows with Promet Group inside its key Czech army supplier Tatra Trucks in a push to list CSG on the Amsterdam or Prague Stock Exchange.
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