CSG names former NATO space advisor to lead new unit
Czech arms maker CSG has acquired a 9.5% stake in Canadian space technology company MDA Space, becoming the firm’s largest shareholder, CSG said Tuesday. MDA Space is listed on both the Toronto Stock Exchange and the New York Stock Exchange.
The financial terms of the transaction were not disclosed. CSG said the investment forms part of its long-term strategy to develop a presence in the space sector alongside its existing defense and aerospace businesses.
CSG described the stake as an opportunity to explore potential cooperation between the two companies over time. The companies could co-invest in manufacturing or assembly facilities in Europe, partner on strategic acquisitions, or work together to support MDA Space’s international growth, CSG said.
“We want to be a long-term strategic shareholder and see significant potential for MDA Space and CSG to grow alongside each other,” CSG Chairman Michal Strnad said in the company’s announcement.
CSG has also created a dedicated space team to develop its activities in the sector. The company named former NATO space advisor Ladislav Stahl as head of space strategy and technology and Filip Kocian as space director for corporate development.