CZG Makes Key Business Decisions
Česká zbrojovka Group SE (CZG or the Group), one of the leading European producers of firearms, has acquired a minority stake in Spuhr i Dalby AB, a Swedish manufacturer of optical mounting solutions for weapons. The company has also taken position on the Prague Stock Exchange.
CZG’s acquisition of Spuhr creates mutual synergies in terms of products, customers and geographical presence. Spuhr’s product portfolio consists of optical mounts, accessories and upgrade kits for weapons, making it highly complementary to Česká zbrojovka’s core business.
“We are very pleased to join forces with Spuhr through this strategic investment. Håkan Spuhr and Ulf Nilsson have built a company which is the world leading manufacturer of optical mounting solutions. We believe that the connection of the CZ and Spuhr brands will further strengthen our position on the market and lead to continuous innovation for the benefit of our customers,” stated Lubomír Kovařík, President of Česká zbrojovka Group. “The cooperation with CZ is a strategic milestone for Spuhr. It will give us access to new markets, high-end testing technology and research. We will continue to be flexible and lead the development of new products for our important high-end customers. The partnership with CZ will take us to the next level,” stated Ulf Nilsson, CEO of Spuhr.
The Spuhr mounts and accessories are used by many military and law enforcement units around the world, including the Swedish, Dutch and Danish Army, German Police and Portuguese Navy. Spuhr also offers a popular hunting series of products.
The shares of CZG have been admitted to trading on the Prime Market of the Prague Stock Exchange with effect from 1 June 2020 in the form of a so-called technical listing without a prior public offering of the shares. In connection with the listing, the Company prepared a prospectus, which was published on the Company’s website.
“The decision to list shares on a regulated stock market is an expression of our determination to operate as transparently and openly as possible. We believe that we will further strengthen our credibility for partners, especially in international markets,” says Lubomír Kovařík, president of CZG. “It is also a first step towards our long-term goal to become a standard traded company that can enter the capital market at the right time to obtain financing for its development plans,” adds Mr. Kovařík.
The shares reference price was set based on a valuation prepared by the Company. CZG will be subject to all reporting and other obligations associated with the listing of shares on the Prime Market.
CZG expects that, depending on the development of market conditions, it could proceed with a public offering of its shares in the future. However, no final decision has been made on the form or timing of such a possible offer.
“Česká zbrojovka brand represents the field of precision engineering, in which we have always belonged to the absolute top leaders. I am extremely glad that the name of such an important and world-famous company is associated with the name of the Prague Stock Exchange. I strongly believe that thanks to the technical listing, the issuer will build the same excellent reputation on the capital market as it has in its field, and that it will soon access the capital market for issuing its shares, which will be offered to a wide range of investors,” says Petr Koblic, CEO of the Prague Stock Exchange.
Česká zbrojovka Group (CZG) is one of the leading European producers of firearms for military and law enforcement, personal defence, hunting, sport shooting and other civilian use. Its companies include Česká zbrojovka, CZ-USA, Brno Rifles, 4M Systems and CZ Export. The CZ (Česká zbrojovka) brand has over 80 years of history. CZG has production facilities in the Czech Republic and the United States.