Athens-listed Metlen – through M Technologies – and Cyprus’ Houtris have signed an exclusive cooperation deal aimed at developing new industrial capabilities in the field of defense systems in Cyprus.
The agreement provides for the creation of a joint company in Cyprus and marks the further strengthening of strategic industrial cooperation between Greece and Cyprus in defense, aimed at developing additional production capabilities in Cyprus and expanding the Cypriot industry’s production, integration and support capacity of defense equipment.
The cooperation will combine the international experience, know-how and advanced industrial capabilities of M Technologies, with the long-standing industrial experience, specialization and manufacturing capabilities that Houtris has in the Cypriot market. It also envisages the transfer of know-how, the development of specialized skills and the further strengthening of the Cypriot defense industrial base, creating the conditions for the faster development of large-scale production capabilities in the field of integrated defense systems.
Within the framework of the European SAFE program, the new scheme will proceed with the production of military vehicles.
