An employee works in the Ceska Zbrojovka small arms factory in Uhersky Brod, Czech Republic, on August 31 2021. Picture: REUTERS/DAVID W CERNYFor Czech gun maker CZG-Ceska Zbrojovka Group, its recent acquisition of the Colt brand carries both the potential to become a major player in the global firearms market and the challenge of reviving the fortunes of a fabled US name.
CZG says it aims to almost double CZG and Colt's pro forma combined revenue of about $570m last year within a few years - putting it on a par with Smith & Wesson's annual net sales of $1.1bn in the last fiscal year. “We ... will be thinking how to make sure the brand is even bigger than it is now and introduce it to wider .Some of the pressure could come from investors. The revenue target looks ambitious to some analysts and will require investment by CZG, whose roots stretch back to before World War 2.
Those issues allowed rivals to steal a march on Colt, though it emerged from bankruptcy in 2016 and revenue rose by a quarter last year.CZG, which used IPO proceeds and issued bonds to help finance the Colt deal, will outline investment plans later this year. They will include possibly introducing new products and investing in upgrades at Colt's main factory in West Hartford, Connecticut, Drahota said.
“We have to consider from a group level what ... the production split will be at each location,” he said. “One plus one is more than two. We believe we can leverage on each other's success.” Global demand for small firearms is expected to rise from about 1.09-billion units in 2019 to 1.26-billion units in 2023, CZG said in its annual report, citing the BIS Small Arms Market Report, with the civilian market now accounting for 62% of sales and military and law enforcement 38%.
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