Czech Billionaire Invests €83.24M in Defense Industry Expansion in the Czech Republic and Slovakia

Industrialist Michal Strnad is injecting funds into defense firms, catalyzing expansion and job growth.


Michal Strnad’s Czechoslovak Group (CSG) is pumping over €83.24 million into expanding businesses in the Czech Republic and Slovakia. This funding is directed towards subsidiaries Tatra Defense Vehicle, Excalibur Army, and Slovak MSM Group, creating 300 jobs. 

Tatra Defense Vehicle will invest over €12 million in a new production facility in Kopřivnice, creating 40-60 jobs and starting operations by 2025, depending on orders. Excalibur Army is funding a new production hall and technology, costing about €20 million and about €6 million respectively. The project will bolster the production of military vehicles and international procurement for the Czech army, creating 120 jobs, with production launching between 2024-2025. CSG’s Slovak arm, MSM Group, plans to modernize and automate its facilities with an investment of €50 million, promising efficiency and job growth, having added over 400 roles in the last year. 

Source: ekonomika.pravda.sk

Jakub Warzecha

Creative copywriter, archaeologist. Interested in history, technology and military matters. Specializes in marketing communications and application architecture design.

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