Czechoslovak Group to acquire nitrocellulose business from IFF.

Czechoslovak Group, a global industrial-technology company, agrees to acquire nitrocellulose business from IFF, a developer and manufacturer of pharmaceutical excipients. Financial terms were not disclosed. "The security threat for NATO countries and their allies is the insufficient European capacity to produce ammunition, especially large-caliber. That is why we have been working hard for several years and investing hundreds of millions of euros in creating a vertically integrated production of large-caliber ammunition within the CSG Group, from input commodities and semi-finished products to the final product. Our recent acquisition has brought us significantly closer to this goal.At the same time, thanks to it, we are becoming a manufacturer and employer in Germany, an important EU country that is a key economic partner of the Czech Republic," Jan Marinov, CSG Group Owner and CEO.