Nexters Signs Collaboration With Czech Manufacturer STV Group

Nexters Inc GDEV announced an agreement with Czech manufacturer STV Group on October 7 for the local supply and certification of shells and modular charges, Shepherd Media reports. The companies inked the pact on September 20.
Nexter undertakes to support the certification of artillery ammunition manufactured locally by STV Group for use on the Caesar artillery system under the contract.
The agreement also provides for the acquisition from Nexter of specific 155mm ammunition like flare (LU 215), smoke (LU 217), and anti-tank (BONUS) rounds.
The offset with national industry was part of the CZK8.5 billion ($391.6 million) contract between Nexter and the Czech MoD to supply 52 units of the self-propelled 155mm Caesar self-propelled howitzer, the report added.
Price Action: GDEV shares traded higher by 5.14% at $9 on the last check Friday.