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...
PRAGUE - 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.
The company has also received a revised unsolicited $3 billion all-cash bid deal from investment firm MNC capital, after rejecting a previous offer from the firm. "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.
"We would like to grow in all of our divisions in the group," said Strnad who said targets in the defence industry had big premiums these days. "In each group there are small or bigger acquisitions. Some are vertical while some are buying competitors.
The company, which also makes howitzers, armoured vehicles or multiple rocket launchers sees promising markets Asia, the Middle East and Africa but also Ukraine where it has been exploring joint ventures with Ukrainian companies.
Kinetic Group CSG Vista Outdoor Ukraine Czech Company
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