CSG Targets US Market with Michigan Hub and Morana Howitzer as Stock Tries to Climb Off Lows
Published on 07/04/2026 at 13:26 | Redaktion boerse-global.de
The Czechoslovak Group (CSG) is deepening its push into the world’s largest defence market with a new subsidiary in Michigan, betting that its Morana self-propelled howitzer can win orders from the US Army. The move comes as the company’s stock, battered by a 60% plunge from its January peak, stages a tentative recovery from an all-time low of €12.20.
CSG Land Systems North America, based in Michigan, will represent three established NATO suppliers – Excalibur Army, Tatra Defence and Tatra Trucks – on the US market. The unit’s immediate focus is on selling highly mobile tactical vehicles and self-propelled artillery systems, with the Morana howitzer positioned as a flagship offering. The expansion is backed by a leadership overhaul: Jason Alejandro Monahan has been appointed to run the Michigan office, while David Jacobs, a former Northrop Grumman executive, has taken the presidency of CSG Defense North America, operating from a new Washington bureau. The company has also been poaching senior talent from Rheinmetall, BAE Systems and Raytheon, signalling its ambition to transform from a regional European supplier into a transatlantic player.
Investors appear to have taken notice. After hitting a trough of €12.20 in late June, the stock rallied more than 14% over the past week, closing on Friday at €14.59. That remains far below the debut high of €36 reached in January, but the pullback has caught the attention of traders looking for a bottom. The recent bounce is nonetheless fragile: to break the short-term downtrend, the shares must first clear the 50-day moving average at €15.97, a challenge that requires a further gain of nearly 9%.
Should investors sell immediately? Or is it worth buying CSG?
Management, meanwhile, is sticking to its financial targets. The board has confirmed its 2026 revenue guidance of around €7.5 billion, underpinned by acquisitions such as ammunition makers Fiocchi and the Kinetic Group, which owns the Remington brand. The group has also been strengthening its executive bench since late June, bringing in industry veterans to oversee the US expansion.
The next major catalyst arrives in August, when CSG publishes its half-year results. Analysts and shareholders will scrutinise the numbers for evidence that the US strategy and bulging order book are translating into measurable profits. If the €12 level holds as support, the stock may have room to grind higher – but the 100-day moving average at €21.45 underscores just how steep the recovery path remains.
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