CSG-linked ZVS Holding and Eurenco to build €300M MACS propellant plant in Slovakia
ZVS Holding, part of CSG, and France’s Eurenco will establish a joint venture to produce modular artillery propellant charges in Slovakia. The €300 million project aims to expand European capacity for key artillery ammunition components.
ZVS Holding, a Slovak ammunition producer linked to the Czech-based industrial group CSG, has agreed with French energetics manufacturer Eurenco to establish a joint venture focused on producing modular artillery propellant charge systems in Slovakia.
The companies plan to construct a new production facility in Strážske in eastern Slovakia dedicated to Modular Artillery Charge Systems (MACS), a key component used in NATO-standard artillery ammunition. The project is valued at approximately €300 million and forms part of broader efforts to expand European ammunition manufacturing capacity amid growing demand.
According to the companies, the new plant will address a critical supply constraint in Europe’s artillery ammunition production chain. Modular propellant charges remain one of the bottlenecks limiting output of large-caliber artillery rounds across the continent.
The project builds on an existing industrial relationship between Eurenco and MSM Group, the CSG ammunition division that includes ZVS Holding. The joint venture will combine Eurenco’s technological expertise in energetic materials with the Slovak company’s manufacturing infrastructure and integration within CSG’s broader ammunition production network.
ZVS Holding itself is jointly owned by the Slovak state and CSG through MSM Group, each holding a 50 percent stake. The company is part of a regional defense-industrial ecosystem that has expanded significantly in recent years as demand for artillery ammunition increased among European and NATO members.
Construction of the new facility is expected to begin in the near term, with production scheduled to start in 2028. Once operational, the plant is planned to reach annual output of several hundred thousand modular propellant charge systems.
The investment reflects a broader push across Europe to expand domestic ammunition supply chains and reduce reliance on limited production capacities for critical energetic materials and subcomponents used in artillery systems.
