Latest news with #PGZ
Bloomberg
23-04-2025
- Business
- Bloomberg
Poland Doubled Its Defense Budget. Much of the Cash Went Abroad
Earlier this year, Poland's minister of national defense Władysław Kosiniak-Kamysz spoke with his Swedish counterpart Pal Jonson, and the conversation turned to procurement. The Swedes were aware that they sold a lot to Poland, from ships to planes to anti-tank missiles, Kosiniak-Kamysz recalled. They wanted to know what they could buy in return. 'Our flagship product that could be sold is Piorun,' Kosiniak-Kamysz said, referring to a portable anti-aircraft missile launcher, manufactured by Mesko, a subsidiary of the state-owned defense conglomerate Polska Grupa Zbrojeniowa, or PGZ. But Poland simply doesn't make enough; the single production line making the weapons is at full capacity. 'There is a waiting list for this from many places in Europe,' the minister told Bloomberg.
Korea Herald
30-03-2025
- Business
- Korea Herald
Hanwha Ocean bolsters strategic ties with Polish shipbuilders
Hanwha Ocean is boosting partnerships with Polish shipbuilders as a strategic move to secure an 8 trillion won ($5.4 billion) defense contract with Poland to supply three naval submarines. According to the company Sunday, 17 staffers from its overseas business, sales, strategy, production and other divisions visited two shipyards — Nauta Shiprepair Yard and Remontowa Shiprepair Yard — in Poland last week. They discussed potential collaboration in constructing naval vessels, offering maintenance, repair and overhaul (MRO) services, diversifying ship types and developing eco-friendly technologies. Founded in 1926, Nauta is Poland's top historical shipyard and has the capacity to construct and repair approximately 200 vessels annually. Remontowa, a subsidiary of the state-run Polish Armaments Group (PGZ), is the second-largest company in the country's MRO market. Hanwha Ocean has been continuously expanding partnerships with local companies to secure Poland's ORKA project. The initiative aims to purchase advanced submarines equipped with cruise missiles to ramp up the country's maritime defense capabilities. Last year, the company forged agreements with Poland's WB Group and PGZ, and UK-based Babcock International Group on jointly developing MRO service packages, with plans to further boost collaboration in other naval sectors. Additionally, working with over 200 small- and medium-sized enterprises in South Korea, it plans to contribute to advancing Poland's shipbuilding and related industries through technology transfer. 'The preferred bidder for the ORKA project has not been selected yet, and Hanwha Ocean is considered one of the most promising candidates,' stated Park Sung-woo, managing director of the overseas business division at Hanwha Ocean. 'Representing Korea, we are committed to expanding our operations in Poland to strengthen the two countries' economic, industrial and naval collaboration, with the goal of landing this contract.' Capitalizing on the surge in global defense and shipbuilding industries, Hanwha Ocean turned a profit in 2024 for the first time in four years, posting 10.8 trillion won and 237.9 billion won in sales revenue and operating profit, respectively. Its market cap increased by 41.4 percent to 20.7 trillion won on Friday at the nation's main bourse, the Kospi, compared to the end of last year.
Yahoo
27-03-2025
- Automotive
- Yahoo
Poland signs $1.7 billion deal for infantry fighting vehicles
WARSAW, Poland — The Polish Ministry of National Defence has signed a deal worth some PLN 6.57 billion ($1.7 billion) to acquire 111 Borsuk (Badger) tracked infantry fighting vehicles from the country's state-run defense group PGZ. 'We are delivering on our promise to invest in the Polish defense industry,' Władysław Kosiniak-Kamysz, Poland's deputy prime minister and defense minister, was quoted in a statement released by his agency. 'Security and the economy, these two things are combined within the Borsuk. Security, because we gain excellent equipment developed in Poland, and the economy, because all this money goes to Polish defense companies,' according to Kosiniak-Kamysz. Under the plan, the Borsuk will replace the Soviet-designed BWP-1 vehicle as the Polish military's tracked IFV. The March 27 contract marks the first executive deal to be signed within a 2023 framework contract for a total of 1,400 Borsuks and accompanying vehicles. Under the deal, the 111 ordered vehicles are to be supplied to the Polish land forces in the years 2025 to 2029. The Borsuk, which has amphibious technology, is fitted with the ZSSW-30 remote-controlled turret. The vehicle is manned by a crew of three, and it can carry six troops. Work on developing the Borsuk was initiated in 2014 by local company Huta Stalowa Wola, currently a PGZ subsidiary, which is part of the consortium that will produce the vehicles for the Polish Army.
Reuters
27-03-2025
- Business
- Reuters
French, German, Korean, Turkish firms eye ammunition JV with Poland, minister says
WARSAW, March 27 (Reuters) - Firms from Germany, South Korea, Turkey and France are bidding to create an ammunition manufacturing joint venture with Poland, to be signed off in 3-4 months, that could also lead to strategic intergovernmental cooperation, Deputy Defense Minister Cezary Tomczyk told Reuters. Poland is leading a European rush to rearm since U.S. President Donald Trump made clear that Washington's readiness to guarantee Europe's security was waning and began courting Russia, which is waging war on Poland's eastern neighbour Ukraine. Warsaw has earmarked $750 million for the state-owned Polish Armaments Group (PGZ) to boost its output. Tomczyk said that Poland aims to own the technology and licences for the ammunition that the JV produces, which would include 155mm artillery rounds. Half a dozen firms have submitted bids, and Tomczyk said he expected the ministry to narrow them down to three to negotiate with. Demand for 155 mm artillery shells has soared since Russia's full-scale invasion of Ukraine, and European stocks have dwindled as allies have supplied shells to Kyiv. PGZ wants to scale up annual 155 mm production capacity, currently insufficient, to 150,000 shells in two to three years. Executives from Turkish state-run defence company MKE last week came to Warsaw with an offer that assumes a complete transfer of 155 mm ammunition production technology, which the Polish defence ministry said "fits current needs". In the interview, conducted earlier this week, Tomczyk said another consideration in choosing a partner would be potential for an intergovernmental agreement on defence cooperation going beyond ammunition. He said Germany, France, Sweden and Britain were interested in such a partnership. "From this perspective it is indeed more interesting, because we can simultaneously consider how to acquire several capabilities in a package, while sealing a very strong political agreement," he said. Poland on Tuesday said it would allocate 30 billion zloty ($7.71 billion) of post-pandemic European Union recovery funds for defense purposes. It also expects to benefit heavily if a 150 billion euro rearmament fund proposed by Brussels is approved. ($1 = 3.8899 zlotys)
Yahoo
20-03-2025
- Business
- Yahoo
Poland eyes 1 million landmines for borders with Belarus, Russia
WARSAW, Poland — The Polish government has unveiled plans to boost domestic landmine production following an announcement that the country, along with Estonia, Latvia, and Lithuania, would pull out the Anti-Personnel Mines Convention, also known as the Ottawa Treaty, Polish Deputy Defence Minister Paweł Bejda said the country would launch production of the weapons in a bid to safeguard the country's eastern borders with Russia and Belarus. 'We want these mines to be produced in Poland, we have such capacities. The issue at hand is to increase such capacities … and we treat equally the private defense industry and the state-owned one,' Bejda told local radio broadcaster RMF FM in an interview. The Polish military needs landmines 'in the range of several hundred thousand, even up to 1 million' units, he said. Polish Deputy Prime Minister Władysław Kosiniak-Kamysz has stated the process of withdrawing from the convention will involve the country's Cabinet, parliament and president, and end with a notification to the United Nations. Following the notification, the withdrawal procedure could take around six months, he said. Asked for details on which companies could produce landmines, the deputy defense minister said that Poland's state-run defense group PGZ will be involved in the manufacturing. Meanwhile, Latvia is 'looking into all possible options when it comes to strengthening Latvia's deterrence and defense capabilities,' Latvian Defence Minister Andris Sprūds said in a statement. The Baltic nation 'must prepare as Russia continues to pose a serious threat to the region, regardless of how hostilities in Ukraine develop. Withdrawing from the Ottawa Convention has the potential to ensure the production of anti-personnel mines,' Sprūds said.
