Brief: CSG says it will start producing jet engines in United States
BRIEF-CSG says it will start producing jet engines in United States July 21 (Reuters) - CSG NV CSG.AS:
CSG SAYS IT WILL ESTABLISH SERIAL PRODUCTION CAPABILITIES IN WISCONSIN, UNITED STATES, FOR JET ENGINES FOR DRONES UNDER UNIT CALLED FIRECREST AEROSPACEDRONE
CSG SAYS PRODUCTION IN STEVENS POINT, WI, WILL BE FOR TURBOJET AND TURBOFAN ENGINES DESIGNED FOR UNMANNED AIRCRAFT SYSTEMS, PRECISION DEFENCE SYSTEMS, LOITERING MUNITIONS AND OTHER NEXT-GENERATION APPLICATIONS
CSG SAYS INITIAL INVESTMENT OF UP TO $15 MILLION
CSG SAYS PRODUCTION IS EXPECTED TO GROW FROM HUNDREDS OF PROPULSION UNITS TO SEVERAL THOUSAND ENGINES PER YEAR; INITIAL ASSEMBLY IS EXPECTED TO BEGIN WITHIN MONTHS, FULL-SCALE PRODUCTION IN 2027
Further company coverage: CSG.AS
(Reporting by Jan Lopatka in Prague)
((prague.newsroom@thomsonreuters.com; +420 234 721 614;))
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