METLEN, through its defense subsidiary M Technologies, has signed an exclusive cooperation agreement with Cyprus-based HOUTRIS to develop new industrial capabilities in defense systems in the Republic of Cyprus.
The agreement provides for the establishment of a joint venture in Cyprus and marks a further strengthening of the strategic industrial partnership between Greece and Cyprus in the defense sector, METLEN said in a statement. The venture aims to expand manufacturing capacity in Cyprus and enhance the local industry’s capabilities in the production, integration and support of defense equipment.
The partnership will combine M Technologies’ international experience, technical expertise and advanced industrial capabilities with HOUTRIS’ long-standing manufacturing experience and engineering capabilities in the Cypriot market. It also provides for the transfer of know-how, the development of specialized skills and the strengthening of Cyprus’ defense industrial base, laying the groundwork for the rapid expansion of large-scale production capacity for integrated defense systems.
As part of the European Union’s SAFE program, the joint venture will manufacture military vehicles. The two companies will also explore opportunities in the production, integration, maintenance and lifecycle support of defense systems in Cyprus and the wider region, with the objective of establishing a long-term industrial presence in the country and creating added value for the Cypriot economy.
M Technologies is METLEN’s defense arm and has extensive experience in delivering complex defense industrial programs. The company participates in the production and support of advanced defense platforms, including Patriot air defense systems, Leopard main battle tanks and components for the Hellenic Navy’s FDI HN (Belharra) frigates, while maintaining strategic partnerships with leading international defense companies.
“The development of strong industrial capabilities in Europe is a prerequisite for security, competitiveness and strategic autonomy,” said Vassilis Tsiamis, Chief Executive Director of M Technologies.
“This agreement represents an important step in that direction by creating a new model of industrial cooperation between Greece and Cyprus. Our objective is to support the further development and rapid expansion of the Republic of Cyprus’ defense industrial capabilities through technology transfer, the development of specialized local expertise and the utilization of the existing strengths of Cyprus’ industrial base,” he added.
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