Czechoslovak Group completed the acquisition of a 70% stake in Fiocchi Munizioni.

Czechoslovak Group, an aerospace and defense company, completed the acquisition of a 70% stake in Fiocchi Munizioni, a manufacturer of ammunition. Financial terms were not disclosed. "This transaction marks a major milestone for the entire CSG, as the investment in Fiocchi is the largest financial investment in the history of our group. Today we become the majority shareholder and partner of a global leader in the field of small-caliber ammunition, with a solid presence in NATO countries. Fiocchi Munizioni, like CSG, has been built by several generations of the Fiocchi family. We consider the Fiocchi family's commitment to the management and development of the company to be a strong asset and we want to further develop the company in close partnership with them," Michal Strnad, CSG Chairman.