Ukraine and Czech producer to build ammunition factory in Ukraine
Adds comments from Shmyhal, Fiala, companies, details; paragraphs 2-9
PRAGUE, July 16 (Reuters) -Ukraine's state company Ukroboronservice and Czech ammunition maker Sellier & Bellot plan to build an ammunition factory in Ukraine, Ukrainian Prime Minister Denys Shmyhal said on Tuesday after joint government meetings in Prague.
The Czech Republic has been a major backer of Kyiv in its fight to push back Russian invaders, spearheading an initiative that has sourced hundreds of thousands of ammunition rounds from around the world.
"Among other agreements in the defenсe industry, a new rounds factory will be built in Ukraine. The agreement was signed between Sellier & Bellot and Ukroboronservice," Shmyhal said, without providing further details.
"This is important for army supplies now."
Czech gunmaker Colt CZ Group CZG.PR, which acquired Sellier & Bellot this year, said it would provide machinery to make small-calibre ammunition as part of the project.
Another Colt CZ unit, Ceska Zbrojovka, also signed a technology transfer deal for its CZ BREN 2 rifles to be built in Ukraine, finalising earlier plans.
Shmyhal said Ukraine had received the first 50,000 ammunition shells from the Czech initiative launched earlier this year. Czech Prime Minister Petr Fiala said the ammunition drive shouldcontinue into next year.
Around half a million artillery shells are expected to be delivered to Ukraine this year from the Czech drive, which uses contributions from NATO states and allies to source ammunition outside Europe.
Reporting by Yuliia Dysa and Jason Hovet;
Editing by Alison Williams
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
