Zastava Oruzje Expects Agreements Worth USD 50 to 55 Million in 2024

The factory Zastava Oruzje from Kragujevac plans to agree and realize jobs worth USD 50 to 55 million in 2024, said the director general, Sasa Milosevic. He expects the factory to “commence development, increase of production and successful operations” in the coming period.

The planned agreements for 2024 pertain to military and hunting and sports arms, and Zastava’s products are exported to all five continents.

– In addition to Serbia, these are markets in Africa, in the Middle East, European markets are interesting for the hunting and sport products, and the agreement we have with the representative in America is planned at around USD 20 million – Milosevic told the press following the ceremony at which the factory’s 170th anniversary was marked.

He pointed out that, in the local market, the most important partners of Zastava Oruzje are Serbia’s military and police forces.

– This year, several agreements on the supply of armaments and military equipment for the needs of the army have been signed with the Ministry of Defense, whose contracted value is two to three times higher compared to 2022 – Milosevic said.

He said that, in the preceding few months, “developmental tasks” for the Ministry of Defense had either been completed or were in the final phases.

– Serial production is solved for the modular rifle M19 and the modular automatic rifle M20, and the sniper rifle M07M, with the .339 Lapua caliber and the long-range rifle M12M have been included as part of the armaments of the Serbian Armed Forces – Milosevic said.

He said that there were 2,260 workers at Zastava Oruzje at that moment and that the factory was in the phase of preparing young people, because many employees were close to retirement.

The assistant minister of defense for material resources, Nenad Miloradovic, told the press that, in the preceding few years, the Government of Serbia had secured two investment cycles for all 17 factories of the defense industry and that, individually, the factory in Kragujevac had received the biggest part.

As he said, the second investment cycle for all defense industry factories amounted to EUR 100 million, and the first one “slightly less”.

Miloradovic said that he couldn’t disclose the individual amounts.

– Zastava Oruzje will get an investment to master the latest technologies and to establish a line for the production of small armament components using quick technologies, as well as an investment to re-master the production of big armament components. In other words, the intention is to increase the calibers produced at the factory – Miloradovic announced and explained that this pertained to artillery.

He pointed out that the Kragujevac factory had the task to continue developing the production of firearms, as well as artillery, more concretely, autocannons, and to equip the Serbian Armed Forces with what they need.

On Friday, the date when the first cannons were made at the arms factory in Kragujevac in 1853 was marked. That is when Topolivnica, the oldest industrial company and the first arms factory in Serbia and the Balkans officially started working.

The anniversary was marked by an official program and a prize-awarding ceremony at the Old Gun Foundry Museum.

Zastava oružje a.d. Kragujevac

Ministarstvo odbrane Republike Srbije

Saša Milošević

Nenad Miloradović

agreements for 2024

jobs for the military

new investment cycle

autocannons