Serbian company to sell more guns in U.S. market

BELGRADE -- Yugoimport SDPR and U.S. company Century Arms closed the annex of the main contract and two accompanying contracts on the sale of sporting and hunting rifles.

Representatives of companies involved after the signing of the deal (Tanjug)
Representatives of companies involved after the signing of the deal (Tanjug)

The weapons are produced by the Kragujevac-based Zastava Arms (Zastava Oružje) and will be sold in the U.S. market.

The contract worth nearly USD 41 million was signed by Yugoimport Assistant Director General Nenad Miloradović.

The chief contract envisages ten-year cooperation in terms of export of weapons and this is the second year in a row in which the contract is being revised due to an increase in the scope of exports, Miloradović told Tanjug.

He noted that Yugoimport and the U.S. company are discussing the ways to ensure a new investments cycle and increase technological capacities of Zastava Arms.

Director of Zastava Arms Rade Gromović recalled that the factory exports hunting and sporting rifles to over 40 markets and underscored that the job the factory was given through the contract with the U.S. company bears key importance for Zastava Arms stable operations.