William Malcolm

CSG Sells Its Stake In New Space Technologies

Michal Strnad’s Czechoslovak Group (CSG) sold its 60 percent majority stake in New Space Technologies s.r.o. to its co-founder, managing director, and current holder of a 20% stake, Ivo Kryl. The parties did not disclose the transaction price. CSG will continue to work with New Space Technologies.

New Space Technologies s.r.o. (NST) is an innovative design and development office with projects in aerospace, ground technology, and mechanical engineering. Its essential product is the CANTAS drone using VTOL technology (ability to take off and land vertically).

The company was founded by Ivo Kryl and Martin Drštička in 2013. It is based in Uherské Hradiště. In 2016, it became a CSG holding member, which acquired a 60 percent majority stake. As of August 31, 2020, the CSG stake was sold to Ivo Kryl.

“Although the development of NST was promising, as a design and development office, it does not fit into our core business of companies that focus on production and sales in addition to development. CSG Miroslav Dorňák.

Ivo Kryl adds: “During the time that NST was part of CSG, the company underwent dynamic development and brought to market several interesting projects, including new solutions in the field of defense technology, special vehicles, and general aviation. that a partnership on a commercial basis without the ownership involvement of a holding company is more advantageous for both parties.”

CSG and NST will continue to work together on product development for CSG companies and the commercialization of NST products globally through the holding’s sales network.