Thanks to the supply of weapons to Ukraine, the Czech company Excalibur Army, which repairs Soviet equipment, has earned a billion-dollar fortune.

Axar.az reports that "Bloomberg" wrote about it.

Located on the outskirts of the Czech town of Sternberg, the factory was used to repair German equipment during World War II but is now part of a larger enterprise that has turned its owner into a billionaire, producing equipment for the Ukraine conflict.

An entrepreneur named Michal Strnad bought rusted tanks from the Soviet era and repaired them. Since the outbreak of the Ukrainian conflict in February 2022, his business has been in high demand.

"Excalibur Army" is considered the most profitable enterprise. According to the company, revenue in 2023 was 1.73 billion euros, which is three times more than in 2021. According to "Bloomberg Billionaires Ranking", the wealth of the current head of the business, Michal Strnad, is estimated at 5 billion dollars.

The company repaired about 300 T-72 battle tanks, 100 of which have already been loaded on trains and sent to Ukraine. The company's ammunition production has increased more than 10-fold since the start of the conflict in Ukraine, and the number of workers in factories in eight countries has reached 10,000.

"Even if the war ends tomorrow, it will take years to replenish the empty reserves. I am sure that the demand for weapons will remain at a high level for a very long time," said Strnad.