Zastava Arms plans to renew cooperation with Remington

Zastava Arms plans to renew the cooperation with US company Remington.

The CEO of Zastava's arms factory, Rade Gromović, confirmed yesterday (January 28, 2010) to newspaper Danas that the factory's manage would be negotiating with the management of Remington in mid-2010 on reestablishment of business-technical cooperation between the two companies, which would include, among the rest, sale of Zastava's hunting-sports arms and arms for personal defense (pistols and revolvers) in the US market, joint development and organization of production of new arms, primarily hunting carbines, as well as other forms of cooperation.

Zastava and Remington signed the contract on cooperation at the end of 2005. During three years of cooperation, Zastava made between 6 and 7m USD worth of profit in the US market. During this year, the Kragujevac-based factory will offer new carbine M 808 to the buyers in USA, as well as new semi-automatic version of carbine.