AMSTERDAM: CSG announced Tuesday it has signed an agreement to establish a joint venture, VEXA DS, LLC, between its Azerbaijani entity Excalibur Army Azerbaijan LLC and a local partner.
The new company will focus on the repair, servicing and modernization of armored vehicles and other land-based military equipment in Azerbaijan.
The program encompasses hundreds of equipment units with a total value in the hundreds of millions of euros and represents a long-term investment initiative with an expected horizon of 10 years or more.
The joint venture builds on CSG’s existing equipment supply and after-sales support in the region. A key element of the project is the transfer of CSG’s technologies and know-how in military vehicle modernization, aimed at enhancing equipment capabilities and developing local lifecycle support capacities.
The project also includes the construction of a modern repair facility designed to serve as a central service hub for Azerbaijan and the wider region, with the ambition of becoming a significant regional player. The initiative aligns with Azerbaijan’s broader efforts to develop industrial cooperation with European partners and strengthen its domestic manufacturing and service capacities.
“We are proud that CSG is gradually establishing itself in a market that has recently attracted growing interest from a number of major defense companies and groups from Western Europe,” said Vladimír Stulančák, CEO of Excalibur Army. “We believe that our approach, based on long-term industrial cooperation, know-how transfer and the development of local capacities, represents a sustainable model of partnership.”
CSG has long developed activities in servicing, maintenance and modernization of military equipment, focusing on high-value, long-term projects for partner countries.
About CSG
CSG N.V. is a Dutch company and a leading European defense industrial group with top management headquartered in Prague, Czech Republic. The group employs more than 14,000 people and reported 2025 annual revenues of €6.7 billion. CSG shares trade on Euronext Amsterdam under the ticker CSG.
EDITOR’S NOTE: This story is based on a company announcement from CSG. The financial figures and projected timeline — including the “hundreds of millions of euros” valuation and 10-year horizon — reflect the group’s own estimates. The joint venture’s strategic significance centers on technology transfer and regional service capabilities, but no independent verification of the contract’s value or scope is provided here. Additional reporting would be required to confirm details regarding local partner identity, facility construction timelines, and any regulatory approvals.