CSG acquires the Gnaschwitz industrial site in Germany and plans to invest more than EUR 100 million in its initial development

Industrial and technology group CSG, through its German subsidiary CSG Energetic Materials Germany GmbH, has completed the acquisition of the 57-hectare Gnaschwitz industrial site near Bautzen in the German state of Saxony. The site was acquired from MAXAM. As part of the initial phase of the site's development, CSG plans to invest more than EUR 100 million. The Group intends to establish production capacities for nitroglycerin and nitroglycerin-based products while simultaneously developing ammunition and ammunition component manufacturing. The purchase price of the transaction has not been disclosed.