A €24 million investment is set to enhance the “14. Oktobar” factory through the construction of new facilities and infrastructure within the existing complex, alongside the acquisition of equipment to boost production capacity.
This initiative marks a pivotal step in advancing the factory’s production and technological capabilities.
“This investment signifies a significant stride in the factory’s modernisation and growth. We are committed to achieving the highest production standards and developing new products to position us competitively in the global market. This investment enhances our competitiveness, which is crucial for the factory’s long-term sustainability and its contribution to the local community and economy,” stated Petar Miljković, General Director of “14. Oktobar”.
Projections for 2025 anticipate annual revenue reaching €30 million, with the workforce expanding to 370 employees. Plans for 2026 include projects valued at €42 million and the creation of 50 new jobs. By 2027, an additional €70 million investment is planned. The factory is focusing on innovation, modernising production processes, and embracing digitalisation and automation to maintain global competitiveness. Ongoing investment in employee development remains fundamental to the company’s long-term success.
Currently, “14. Oktobar” is a leader in producing high-quality metal components for various industrial sectors, including civil machinery and military programmes, as well as manufacturing large-calibre ammunition that meets stringent international quality standards.
In 2017, the factory became part of the Czech company “Czechoslovak Group” (CSG), initiating a new phase of modernisation and global expansion. Investments in equipment, revitalising production facilities, and workforce development have enabled the factory to meet the most demanding challenges of modern industry. The factory’s production schedule is planned three years in advance, reflecting the high level of trust from business partners.
CSG is a global industrial and technological conglomerate with manufacturing capacities in the Czech Republic, Slovakia, Spain, Italy, India, the United Kingdom, and the United States. The group exports products worldwide, with consolidated sales reaching €1.73 billion in 2023. CSG employs over 10,000 people across sectors such as engineering, automotive, railways, aviation, small-calibre ammunition production, and defence.