The Globe and Mail reports in its Wednesday, Oct. 14, edition that Czech defence company CSG has bought a 9.5-per-cent interest in MDA Space, making it the Canadian company's largest shareholder.
A Canadian Press dispatch to The Globe reports that CSG says it views MDA Space as a strategic investment and sees opportunities to explore potential co-operation between the two companies over time.
CSG chairman Michal Strnad says MDA Space is a highly respected, well led, profitable and growing space company with exceptional technological capabilities.
Mr. Strnad pointed to the possibility of co-investing with MDA in manufacturing or assembly facilities in Europe and partnering on strategic acquisitions.
MDA Space chief executive officer Mike Greenley welcomed the investment and said CSG is a leading European industrial group with a proven track record in building high-quality defence businesses.
On Tuesday, MDA Space finished ahead 44 cents at $40.62 on the Toronto Stock Exchange.
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