The Czech weapons manufacturer and Heckler & Koch competitor CZ is planning the complete takeover of the world-famous US company Colt - including its Canadian subsidiary.
For this purpose, after research by WELT AM SONNTAG, a declaration of intent was signed.
A spokeswoman for CZ Ceská Zbrojovka confirmed the plan in principle to the newspaper.
"We will inform you about major developments in due course," she said.
CZ put the entry plans hidden online at the end of November - and didn't even mention the name Colt in the headline.
Apparently there is still no agreement.
In the industry, CZ is seen as an awakening giant.
In mid-2020, the holding company Ceská Zbrojovka Group SE (CZG) went public on the Prague Stock Exchange.
With a good 1,600 employees, CZ has more than twice as many employees as Heckler & Koch and is also slightly larger in terms of turnover.
For CZ, the USA is by far the company's largest sales market so far.
In the first nine months of 2020, 70 percent of sales of around 191 million euros were achieved in the USA.
Colt is considered an icon of the US arms industry.
The more than 160-year-old company from Hartford, Connecticut, USA, has its origins in the business of revolvers invented by the company's founder, Samuel Colt.
In 2015, Colt had to file a Chapter 11 bankruptcy under US bankruptcy law, with business continuing.
The full text is from WELT AM SONNTAG. We are happy to deliver them to your home on a regular basis.
The full text is from WELT AM SONNTAG.
We are happy to deliver them to your home on a regular basis.
Source: Welt am Sonntag