SK&S advised on the establishment of the EURENCO–MESKO joint venture in a strategic project for the Polish defense industry
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SK&S advised EURENCO on entering into a shareholders’ agreement with MESKO S.A. regarding the establishment of a joint venture that will build a state-of-the-art production facility for propellant charges for 155 mm ammunition in Pionki, Poland.
Signing of the shareholders’ agreement was announced on June 15 during the Eurosatory 2026 in Paris, implementing the strategic Term Sheet entered into by the parties in October 2025.
The planned joint venture will be the first company of its kind established by an entity belonging to the PGZ Group. The project forms part of broader efforts to strengthen security of supply, expand European defense manufacturing capabilities, and increase Europe’s independence in the production of critical ammunition components. The new production facility in Pionki represents an important step in building Poland’s domestic capabilities in the production of 155 mm artillery ammunition under the SAFE program for the supply of ammunition to the Polish Armed Forces.
EURENCO France, a wholly owned subsidiary of EURENCO, is one of Europe’s leading manufacturers of explosives, propellants, and energetic materials for the defense sector. MESKO, a member of the Polish Armaments Group (PGZ), is one of Poland’s leading manufacturers of weapons and ammunition, with extensive experience in the production of artillery ammunition and propellant systems.
SK&S advised on all stages of the project, including the development of the transaction structure, negotiations between the shareholders, preparation and negotiation of the transaction documentation, and the execution of the shareholders’ agreement. In addition, the SK&S team supports the parties in preparing the merger control filing with the President of the Polish Office of Competition and Consumer Protection (UOKiK).
The project is led on the SK&S side by Sławomir Uss (Partner) and Wiktor Markiewicz (Senior Associate), who were responsible for the overall transaction advice, transaction structuring, negotiations, and execution of the shareholders’ agreement. Antitrust and merger control matters, including the UOKiK filing, are handled by Krzysztof Kanton (Partner) and Szymon Murek (Senior Associate), while tax advice is provided by Sławomir Łuczak (Partner) and Rafał Mierkiewicz (Senior Associate).