Company modernising tanks for Ukraine sees huge rise in turnover

A Czech company that supplies military equipment to Ukraine says its turnover increased more than five times last year, the Czech News Agency reported on Wednesday. The firm Zbrojovka Excalibur Army, which is based in the Olomouc Region, said it had taken in CZK 13.5 billion in 2022, compared to CZK 2.5 billion in 2021.

The company produces, modernizes and repairs military equipment, including tanks.

Zbrojovka Excalibur Army is currently working on a contract to modernise hundreds of T-72 tanks for Ukraine, financed by the US and the Netherlands. It also prepared T-72 tanks for Ukraine last year.