Defense Firm CSG Sees Iran War Boosting Demand for New Systems
Michal Strnad, chairman of CSG NV, second left, during the listing of CSG NV at Euronext Amsterdam in January.
Photographer: Lina Selg/BloombergArms manufacturer CSG NV, owned by Czech billionaire Michal Strnad, said the conflict in the Middle East is creating fresh business opportunities as the company seeks to further expand into advanced defense technologies.
Speaking after reporting annual results on Thursday, Strnad said CSG has long been active in markets including the United Arab Emirates, Saudi Arabia, Qatar and Azerbaijan. The heightened tensions in the region following the outbreak of the war in Iran are increasing demand for newer products of its Advanced Systems division.