It is both. Today's company name is Česká zbrojovka, a.s. (which stands for Czech armory) but the logo ČZ from the beggining of the article does not belong to them although we all know it. Why?
The company that you know today, the manufacturer of your P-10 C or Shadow 2, started its history in 1936.
Back in those days full of tension, when it was already clear that Nazi Germany would like to have slice, or more, of Czechoslovakia, the government of Czechoslovakia addressed company Česká zbrojovka Strakonice to start another operations but further from borders with Germany so that it can run even if things go wrong. And things went wrong, but location of the factory didn't help much. But that is another story.
In July 1936 it was decided that the new factory of Česká zbrojovka Strakonice (ČZ) will grow in the center of Czechoslovakia, in a town of 8 thousand people, in Uherský Brod. In november of that year already the factory was finished and started running.
The company Česká zbrojovka Uherský Brod (CZUB) later took all armory operations of Česká zbrojovka Strakonice (CZ), which was the mother company, and later during the communism era specialized mainly on armory production. After revolution in 1989 these companies were separated and privatized. The company in Uherský Brod continued in its armory production but since it was no longer part of the mother company Česká zbrojovka Strakonice, they cannot use the ČZ round logo.
Thus, CZUB stands for Česká zbrojovka Uherský Brod and is historically a branch of company CZ - Česká zbrojovka Strakonice. However, since they were for most of their history part of the Česká zbrojovka Strakonice (CZ), they also were for most of their history been CZ and are CZ up to today.
