► EURENCO and PGZ sign strategic shareholders agreement at Eurosatory for French-Polish joint venture

EUROSATORY, Parc des Expositions Paris-Villepinte, June 15, 2026 – EURENCO and Polska Grupa Zbrojeniowa (PGZ) have reached a major milestone by officially signing the Shareholders Agreement for their future joint venture at the Eurosatory exhibition, on the EURENCO stand, and in the presence of Konrad Gołota, Polish Minister of State Assets, André DENK, CEO of the European Agence of Defense, and a delegation from the French Procurement Agency (DGA).

This decisive step follows the initial strategic agreements signed on October 23, 2025, aimed at establishing a joint venture between EURENCO and MESKO, subsidiary of Polska Grupa Zbrojeniowa (PGZ), based in Skarżysko-Kamienna, Poland , to produce 155 mm artillery propellants and Bi-Modular Charge Systems (BMCS) within the framework of the Poland Autonomy strategy .

This agreement serves as the bedrock of a solid, long-term partnership between EURENCO and MESKO. It enables the transfer of EURENCO’s advanced technology to Poland to manufacture the EURENCO modular charge under a dimensioning French-Polish framework agreement. As the Design Authority from energetic nitrocellulose (NCE) to the complete modular charge, EURENCO will ensure the implementation of the latest state-of-the-art industrial technologies.

With the Shareholders Agreement officially signed, the project will now be submitted for anti-trust clearance. The joint venture targets an official entry into service and operational launch by Summer 2028.

Thierry FRANCOU, CEO of EURENCO, stated: “This signature, honored the presence of the highest-ranking defense authorities from both our countries and the European Union, emphasizes the strategic magnitude of this partnership. It marks a major new step for our expansion projects in Eastern Europe and a cornerstone of EURENCO’s continued growth.” He added “By anchoring our industrial presence in Poland, we actively contribute to the resilience of the European supply chain and ensure the security of supply for our allies with the highest standards of safety and performance, fully aligned with our mission in the service of sovereignty”

Adam LESZKIEWICZ, CEO of PGZ said: The signing of today’s agreement and the establishment of a joint venture with our partners from EURENCO mark the transition to the practical phase of building the Polska Grupa Zbrojeniowa capabilities to produce modern propellants directly in Poland, within our subsidiary MESKO. In this way, we are systematically adding another element to strengthen our production sovereignty in the manufacturing of 155 mm ammunition and to enhance the strategic security of Poland and NATO’s eastern flank,” said Adam LESZKIEWICZ, President of the Management Board of PGZ S.A. “We are particularly pleased that such an important agreement was concluded in the presence of such distinguished guests and during the Eurosatory trade fair,” added Adam LESZKIEWICZ.

According to Renata GRUSZCZYŃSKA, Chaiman of the Board of MESKO S.A. “building a partnership that facilitates the delivery of components for ammunition production is one aspect of establishing reliability in the supply chain. The collaboration with EURENCO is the result of many years of dedication to guarantee a consistent and autonomous supply source and a real strengthening of the security of the European defense industry. This will facilitate a more rapid production startup in Pionki production plant by leveraging the capabilities acquired.”