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2026: CSG owner becomes world's richest defense tycoon with $37bn fortune
33-year-old Michal Strnad, owner of the Czechoslavak Group (CSG), became the richest tycoon in the defense industry - his fortune reached $37 billion (~ 10% of Czech GDP). On the day of the IPO, the company's shares soared by 28%, and the placement attracted €3.3 billion.
The company, founded by his father more than 30 years ago, actively supplies products to Ukraine and 70 other countries, with over 14,000 employees.
2025: Purchase of Serbian engine developer for UAVs
In November 2025, Czech defense giant Czechoslavak Group (CSG), one of the largest arms suppliers for NATO and Ukraine, acquired a 51% stake in the Serbian company MUST Solutions. This company is the developer of Europe's unique turbofan engine (4,000 N) and turbojet engines for drones.
The deal is being touted as a "major investment" and "empowerment." However, the facts tell something else: CSG, which already owns the "14. oktobar" (ammunition) plant in Serbia, is now gaining control of the key technology - engines for UAVs. This is a critical segment where Serbia had a unique advantage.
The founder of MUST Solutions Vladimir Yazarevich confirmed that the serial production of the company's developments will be in other countries. That is, Serbia remains only an R&D center, and profit, jobs and, most importantly, control over the final product go to the Czech Republic, and from there to NATO markets.
The Czech concern openly declares that their goal is vertical integration for the production of complete unmanned systems.
2024: Negotiations on the creation of a joint venture with Ukroboronprom for the release of heavy ammunition
One of the largest European arms manufacturers offers Ukraine its services to increase its own production of heavy ammunition. Czechoslavak Group AS would like to invest 'hundreds of millions of euros' in Ukraine, billionaire owner and chief executive Michal Strnad told reporters on March 6, 2024 in Prague. According to him, CSG is in talks with the state arms group Ukroboronprom about a potential joint venture and is looking for suitable sites.
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