ELVO planning defence hub at its facilities in Thessaloniki

The absorption of ELVO is aiming to found a Defence Hub astatine its facilities successful Thessaloniki, expanding its activities crossed a wide scope of defence manufacture segments and processing a strong R&D function. According to property reports, a substantial concern bundle is being planned by its Israeli parent, SK Group.

The signing of a Memorandum of Understanding (MoU) with Rheinmetall MAN Military Vehicles GmbH—one of Europe’s starring manufacturers of tactical vehicles—announced connected Thursday, marks a important step toward ELVO’s restructuring and its instrumentality to a starring presumption successful the planetary defence landscape. The statement establishes a model for practice successful infrastructure integration, including precocious superstructures such arsenic aerial defence systems, arsenic well arsenic the assembly of subject trucks tailored to the needs of the Hellenic Army, Navy
and Air Force.

According to institution management, the Thessaloniki works offers extended production, assembly and attraction capabilities, positioning it arsenic a strategic hub for aboriginal defence programs.

Commenting connected the agreement, ELVO Managing Director Antonis Vitetzakis described the concern with RMMV arsenic a cardinal milestone for some ELVO and the aboriginal of Greece’s defence industry. He noted that it strengthens nationalist concern capabilities, creates opportunities for economical growth, and positions Thessaloniki arsenic a strategic halfway for defence manufacturing and innovation.

Beyond this agreement, sources bespeak that ELVO Chairwoman and SK Group Vice President Orly Katsav, on with a delegation from the Israeli genitor group, held meetings this week with section authorities successful Thessaloniki. During these discussions, SK Group outlined its volition to make ELVO’s facilities into a full-scale Defence Hub, encompassing the accumulation of subject vehicles—both done existing partnerships and caller collaborations—as well arsenic the manufacture of defence instrumentality ranging from helmets to drones.

In this context, the Israeli group—Israel’s largest privately held defence group—is reportedly readying to put much than 30 cardinal euros successful ELVO implicit the adjacent three years, with implicit one-third allocated to R&D, alongside upcoming recruitment initiatives.

It is besides noted that, successful precocious March, ELVO formally expressed involvement successful participating successful the “Achilles Shield” intergovernmental defence program, citing its long-standing expertise successful the design, manufacturing, assembly, upgrading and lifecycle support of subject and special-purpose vehicles, combined with precocious Israeli know-how and its modern accumulation lines, testing capabilities and broad technical support services astatine its Sindos, Thessaloniki
facilities.

SK Group, the largest backstage defence radical successful Israel, operates facilities crossed the United States, Asia and Latin America, and is present further consolidating its beingness successful Europe.