Metlen expands its share in defense market
Athens-listed} group Metlen is strengthening its presence in the defense sector, claiming a share of the 800-billion-euro market created by the ReaArm Europe strategic plan for the rearmament of the Old Continent.
The company is expanding its Volos industrial complex and is forming a defense equipment manufacturing center in Greece.
As it announced on Tuesday, it has signed a preliminary agreement to purchase a property of 19,000 square meters within the Volos Industrial Zone A with 5,000 sq.m. factory facilities and is already planning to purchase another adjacent property, covering 8,000 sq.m. These two neighboring plots form a single one with another plot of approximately 32,000 sq.m. that the company acquired in 2023, within which it is already constructing a modern factory unit for the production of highly specialized metal structures for defense applications.
This total area of 60,000 sq.m. will specialize in the manufacturing of tanks, as well as components, equipment and special constructions for armored military vehicles, with advanced welding and assembly technology, as developed by Metlen over the last 30 years.
In its full development, it will consist of the Nea Ionia Volos factory, Service Steel in the 1st Industrial Zone of Volos, as well as three more complexes. Including the new acquisitions, Metlen will operate a total of five independent factories in Volos, which will be able to work on five different programs, all within the perimeter of the 1st Industrial Zone, except for the historic factory in Nea Ionia, which is in continuous operation.
The company is expected to announce more during the presentation of Capital Markets Day at the London Stock Exchange on April 28.
Metlen holds a leading position in heavy and complex metal structures, with the Volos industrial unit recognized for its international defense production. The factory, founded in 1963, has evolved into a specialized production unit, with 100% of its production destined for export to date. In recent years, in collaboration with international defense equipment suppliers, it has been producing parts for Patriot anti-aircraft systems, Leopard 2-Hel battle tanks and latest-generation submarines.
