Core Insights - CSG and Hellenic Defence Systems S.A. have established a joint venture, Hellenic Ammunition S.A., to produce large-calibre ammunition in Greece, enhancing strategic production capacities and CSG's vertical integration in ammunition manufacturing [1][3] Group 1: Joint Venture Establishment - The founding documents for the joint venture were signed in Athens, including Articles of Association and a concession agreement, formalizing the establishment of Hellenic Ammunition S.A. [2] - The joint venture is seen as a significant milestone for strengthening Europe's defence industrial base, with Lavrio becoming a key site for ammunition production for Greece and its allies [3] Group 2: Employment and Investment - MSM will manage the Lavrio production site for 25 years, implementing a modernization program, with current employment at the facility at approximately 120, and plans to recruit an additional 180 employees, aiming for a total of around 300 by year-end [5] - Overall investments in Lavrio are expected to reach several tens of millions of euros, with CSG committing up to €50 million for the joint venture in the long term [7] Group 3: Production Capabilities - The production of large-calibre ammunition is set to operate in a multi-shift regime by 2026, with current production of 155 mm ammunition and plans to introduce additional calibres [6] - The project also includes the restoration of TNT production in Lavrio, with production expected to begin between 2026 and 2027, expanding the scope to include key intermediate products [7]