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The Government of the Republic of Serbia

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“Zastava Oruzje”, “Remington” sign agreement worth $3.2 million

Kragujevac, 18 October 2005

Director of the factory “Zastava Oruzje” Dragoljub Grujovic and President of the American arms manufacturer “Remington” Thomas Milner signed today in Kragujevac the first commercial agreement for the sale and marketing of “Zastava Oruzje” products in the US during the forthcoming year, in a deal worth $3.2 million.

Author: Fonet

The agreement concerns the sale and marketing of various “Zastava Oruzje” products including, sport weapons, as well as joint development of new sport models of weapons, exchange of experience and the introduction of technical and technological innovations.

The agreement also envisages that in the forthcoming year, 24,000 carbine and small-calibre units will be placed on the US market; however the carbines will be delivered without butts and with the label, “Remington-Zastava”. The butts will be installed in the US since “Remington” produces quality polymer and layered-wood butts.

The first sale and marketing of “Zastava Oruzje” in the US, Canadian and Mexican markets is expected to take place at the beginning of 2006 and “Remington” has already printed a new catalogue that includes the offer of “Zastava Oruzje” products.

The signing of the agreement was attended by Serbian Minister of Labour, Employment and Social Policy Slobodan Lalovic, Serbian Minister of Capital Investment Velimir Ilic, as well as representatives of the Serbia-Montenegro Ministry of Defence, Serbian Chamber of Commerce, the US embassy in Belgrade, directors of business banks and representatives of local and regional authorities.