COLT CZ will produce for the army in Hungary.

The Colt CZ Group SE signed a joint venture agreement with N7 Holding Ltd. on December 22, 2022, a Hungarian state-owned company. Together, they plan to establish a joint stock company called Colt CZ Hungary. Colt CZ Group will hold a 51% stake in the JV, with the Hungarian government holding a 49% stake.

The establishment of the JV is aimed at further deepening the existing collaboration between Colt CZ Group and the Hungarian government in technology transfer since 2018. The goal of the joint venture is to establish a small arms production facility on Hungarian soil to supply the Hungarian armed forces with military-grade firearms. The establishment of the joint venture is subject to regulatory approvals and other permits in Hungary and is expected to take effect in the first/second quarter of 2023.

The new joint venture follows the successful collaboration under the 2018 technology transfer framework agreement signed between Colt CZ Group and the Hungarian government, which acquired licenses for the assembly and production of four products from Česká zbrojovka's portfolio - the CZ P-07 and P-09 pistols, the CZ Scorpion EVO 3 carbine, and the CZ BREN 2 rifles (pictured above). The project was carried out at the state-owned M.o.D. ARZENÁL factory in Kiskunfélegyháza.

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