Czech holding CSG buying Serbian MUST Solutions for drones

The Czech military and mechanical engineering holding CSG, which also operates in Serbia, is buying a majority stake in Serbian drone engine manufacturer MUST Solutions from Vladimir Jazarevic, the Czech news agency CTK reported today. CSG owner Michal Strand, one of the richest Czechs, is buying the Serbian company for its innovative solutions in drone propulsion, through his new holding company AviaNera Technologies, founded last month.

– We want to obtain top-notch technologies and know-how for power units, which are a key component and often a bottleneck in the production of modern drones – said Strand. AviaNera plans to invest in the Serbian company to enable an increase in capacity for serial production of engines for military and civilian needs, by several hundred next year. – The development and research center will remain in Serbia. We also plan to develop new engines – said Pavel Chehal, director of the new Czech owner of a 51% stake.

– When I founded MUST Solutions six years ago, I had the ambition to create a European center for drone propulsion systems. For me, connecting with CSG and AviaNera is a logical continuation of that mission – said Jazarevic, reports CTK.

The CSG holding did not disclose the value of this deal.

In recent years, drones have been increasingly used in the military industry, and their importance is demonstrated every day by the war in Ukraine.

The future Czech government of the likely prime minister, agricultural and chemical industry tycoon Andrej Babis, announced that it no longer wanted to recklessly increase defense spending, but that investments in air defense and drones, which previous governments, including his own from 2017 to 2021, had neglected, remained a priority.

14. OKTOBAR d.o.o. Kruševac

MECHATRONICS UNMANNED SYSTEMS & TECHNOLOGY SOLUTIONS

CSG

MUST Solutions

AviaNera Technologies

Vladimir Jazarević

Michal Strand

unmanned aerial vehicles

drones

acquisition

majority stake

drone engine manufacturer