Czechoslovak Group (CSG) and the Greek state company Hellenic Defense Systems SA signed an agreement in Athens to form a consortium for the production of large-caliber ammunition in Greece. CSG signed through its Greece subsidiary, MSM Greece. The agreement foresees a new company, Hellenic Ammunition SA, which will be located in the southeast Attica port city of Lavrio. It aims at reviving strategic productivity capabilities in the defense industry. At the same time, the company's creation strenthens CSG's vertical integration in the sector of ammunition production, expanding its presence in the European market. Hellenic Ammunition SA is expected to create hundreds of job openings, boosting local economy and reestablishing Lavrio on the map of basic defense production centers in Greece. (ICE ATENE)

Fonte notizia: Defence Industry Europe