CSG indirectly acquires 37 pct in Hungarian vehicle maker Raba

Budapest, March 2 (CTK special correspondent) - Arms maker Czechoslovak Group (CSG) has acquired an indirect 37 percent stake in Hungarian vehicle maker Raba worth more than CZK24.3bn as part of the purchase of a 49 percent stake in the Hungarian group 4iG, and the contracts were signed in front of reporters in Budapest.

The signing of the contracts was witnessed by Hungarian Prime Minister Viktor Orban and Czech Industry and Trade Minister Karel Havlicek. The deal would allow the US HIMARS systems to be fitted on Tatra chassis.

4iG, where CSG is now a partner, announced the signing of a contract with Budapest for the delivery of up to several thousand heavy tactical vehicles for the Hungarian armed forces, which CSG will participate in the production of. The vehicles will be manufactured and assembled primarily in Hungary in cooperation with Raba Automotive Holding. Raba manufactures axles, heavy and special vehicles and components.

Budapest has also concluded a contract for the purchase of HIMARS systems from the US company Lockheed Martin for the Hungarian armed forces, which CSG says could be integrated in Raba on a Tatra chassis platform.

CSG needed to increase the production capacity of Tatra vehicles to meet orders in Southeast Asia. Hungary is an ideal location because of its proximity and production of Raba vehicles, CSG officials told reporters. The group already has operations in Slovakia, where another CSG company, MSM Group, produces artillery ammunition. Another Czech arms maker, Colt CZ Group SE (Colt CZ), which produces small arms and ammunition for the armed forces and personal defence, is already active in Hungary.

Raba was founded in 1896 and the shares of the current Raba Automotive Holding are traded on the Budapest Stock Exchange. Raba vehicles are used by the Hungarian armed forces and the company also cooperates with international partners.

The 4iG technology and industry group is active in telecommunications, information, space and defence technologies.

CSG's key activities include the development and production of military equipment, aerospace systems, special vehicles and ammunition. The group includes, for example, the Tatra Trucks automotive company, Excalibur Army and the Czech radar manufacturer Eldis. CSG acquired the sports equipment and weapons division of Kinetic Group from the US company Vista Outdoor at the end of 2024. CSG has production facilities in the Czech Republic, Slovakia, Germany, Italy, USA, Greece, Serbia, Spain, India and the United Kingdom. It employs more than 14,000 people.

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