Zastava Arms signs new deal to export to the US

A Zastava press release specified that the contract to export hunting and sporting firearms is worth 235 million Dollars. “The contract secures business stability for the company which is a pillar of the Serbian military industry and creates an opportunity to upgrade the production process,” CEO Mladen Petkovic is quoted as saying.

The contract is part of a long-term arrangement with American business partners which will secure continued production over the next six years, the press release said. Zastava Arms signed the first contract worth 572,000 Dollars with its unspecified American partners late in 2018 and signed fresh contracts over the next two years to export 70 million Dollars worth of firearms to the United States.