Zastava Oruzje Exporting to USA – Agreement Worth EUR 235 Million Signed

The Kragujevac-based factory Zastava Oruzje has announced that it has signed an agreement on the export of hunting and sports arms to America worth USD 235 million and that this marks the return of that company to the demanding American market.

– Under this agreement, the factory secures a business stability of the company which is the pillar of the Serbian arms industry, but also creates the possibilities for the technical-technological perfection of a production process – says the press release signed by the general manager of the Kragujevac factory, Mladen Petkovic.

According to the management, this agreement is “a historical endeavor” of the factory.

A long-term arrangement of the factory with business partners from America is being prepared, which will allow the Kragujevac factory to have continuous production activities in the next six years and secure jobs for 2,500 workers.

Zastava Oruzje signed its first agreement with the partners from America in late 2018, worth USD 572,000, and in 2019 and 2020, new long-term agreements and annexes were signed. These pertain to the export of hunting and sports arms to the USA, in the total amount of USD 70 million.

These jobs, as said, in addition to financial stability, have also enabled a better branding of Zastava’s arms in the very specific American market.

It is also estimated that, in the past three years, the factory has been recording good business results when it comes to the civilian program in foreign markets.

Zastava oružje a.d. Kragujevac

Kragujevac

export

USA

arms