MDA Space CEO Mike Greenley speaks at a news conference in Montreal in 2021.Paul Chiasson/The Canadian Press
Czech defence company CSG has bought a 9.5 per cent stake in MDA Space Ltd. MCD-N, making it the Canadian company’s largest shareholder.
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 chair Michal Strnad says MDA Space is a highly respected, well led, profitable and growing space company with exceptional technological capabilities.
He pointed to the possibility of co-investing with MDA in manufacturing or assembly facilities in Europe and partnering on strategic acquisitions.
MDA Space CEO 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.
MDA Space shares were down 23 cents at $39.95 in early-afternoon trading on the Toronto Stock Exchange.