CZECHOSLOVAK GROUP Establishes New CSG AEROSPACE Division, Associating Companies With a Turnover of 5 Billion Crowns and 600 Employees

PRAGUE, September 19, 2018 /PRNewswire/ --

The industrial holding CZECHOSLOVAK GROUP (CSG) has significantly strengthened its position in the field of aviation and radar technology in recent years. To enable synergies among CSG's aerospace companies and improve their coordination, the CSG AEROSPACE division has been established within the CSG holding structure. Thanks to the planned turnover of five billion crowns this year, it immediately becomes the leading player of the Czech aerospace industry. The division is headed by its co-owner and CEO Jiří Sauer.  

"Our corporate group has grown significantly in recent years. Therefore, in appropriate cases, where synergies exist between a group of businesses operating in the same or related fields, these companies will be integrated into divisions. They will take the form of separate entities headed by their respective CEOs responsible for the management of the companies that are part of the divisions," says Michal Strnad, the owner and CEO of CSG, explaining the reasons for the establishment of the partially autonomous division CSG AEROSPACE.

"The companies within the newly established division complement each other technologically. Instead of competing, they support each other, and focus on finding synergies, thus expanding their own portfolios," says Jiri Sauer, co-owner and CEO of the CSG AEROSPACE division.

CSG AEROSPACE takes the form of a joint-stock company, associating its individual businesses. A brief introduction of these companies follows:

CS SOFT develops and supplies air traffic management systems for both civilian and military applications.

ČESKÁ LETECKÁ SERVISNÍ ensures the integration of avionics and the modernization of cockpits in helicopters and aircraft of various types.

ELDIS Pardubice is a world-famous specialist in airport surveillance radars, precision landing radars and air traffic control systems.

EUROPEAN AIR SERVICES is engaged in the sale of aviation equipment and spare parts, their modernization and maintenance, as well as various types of flight training.

EXCALIBUR INTERNATIONAL is a company that provides financing for major projects and plays the role of an exporter to international markets. It has its representatives in various countries of the world.

NEW SPACE TECHNOLOGIES is a design office dedicated to aircraft design and development. Its key activity is the development of CANTAS, a family of unique UAVs, suitable for both military and civilian use.

RETIA develops, manufactures and integrates radar systems for ground air defense systems, C4 systems and recording systems.

SLOVAK TRAINING ACADEMY provides comprehensive flight training of military and civilian personnel, repair and maintenance services, as well as special and commercial air transport. The SLOVAK TRAINING ACADEMY is currently the only commercial operator of the Sikorsky UH-60A Black Hawk outside the US.

The companies incorporated into the newly created division generated a turnover of nearly CZK 2.9 billion in 2017, and at the end of 2017, they employed nearly six hundred high-skilled workers. This year, the expected turnover is more than five billion crowns, making CSG AEROSPACE the largest Czech aerospace business of global significance.

About the CZECHOSLOVAK GROUP  

The CZECHOSLOVAK GROUP is a holding based on the tradition of Czechoslovak industry in the field of civilian and defense industrial production. Its portfolio includes the production and sale of engineering products for the automotive, rail, aircraft and watchmaking industries, as well as the production of special vehicles, off-road trucks, weapons and weapon systems or ammunition. The group puts a strong emphasis on the quality of its products and services, as well as its export activities. Products of the companies of the holding can be found on all continents, and the number of its customers is growing steadily. The companies of the CZECHOSLOVAK GROUP employ more than 8,000 people and in the year 2017, they generated revenues worth CZK 25 billion.

SOURCE CZECHOSLOVAK GROUP a.s.