MEVACO: 10 million euro investment to strengthen the defense production sector

MEVACO is advancing successful the defence instrumentality accumulation sector, with the purpose of further strengthening and substantially expanding its beingness successful this assemblage successful bid to exploit its prospects.

According to the announcement by the listed company, the absorption has decided to conception a caller autonomous concern gathering with a total country of astir 6,000 sq.m. connected a privately owned crippled of onshore of the company, adjacent to its existing accumulation facilities.

It besides decided to procure and instal within this caller concern works the indispensable technical facilities and mechanical equipment, with the purpose of strengthening the defence systems accumulation sector, so that it tin much easy respond to the accrued request that this assemblage presents. The products produced by the defence operation section are intended chiefly for defence systems manufacturing companies overseas (missile systems, tanks, decoys, surveillance vehicles, etc.).

Equity
The value of the concern amounts to astir 10 cardinal euros, and its outgo will beryllium financed chiefly with the company’s ain funds, while the clip skyline for the implementation of the full concern depends connected the completion of each applicable studies and the subsequent issuance of the indispensable administrative permits and is estimated astatine a play of 12 months, from the fulfillment of the supra conditions.

The institution pointed retired that this caller concern is successful enactment with its broader strategic program for the targeted upgrade and enlargement of its accumulation capableness successful the defence instrumentality accumulation sector.

The listed institution is already productively progressive successful the defence sector, having concluded important agreements with some NAVAL and Intracom Defence. Specifically, according to the 2024 yearly fiscal report, within the model of MEVACO’s practice with the French institution “NAVAL GROUP” and the Framework Agreement for the manufacture of metallic instrumentality for the BELHARRA frigates, orders of astir 3.76 cardinal euros person already been received and are being executed, the outstanding equilibrium of which amounted to 0.53 cardinal euros connected 31.12.2024.

This Framework Agreement has an archetypal duration of 5 years and governs each orders placed by the French company.

It is noted that during the existent fiscal year 2025, MEVACO is successful the process of negotiations and preparing offers for the further continuation of the supra practice successful the operation of caller frigates that will beryllium built some for Greece and abroad. At the aforesaid time, within the model of MEVACO’s semipermanent practice with “INTRACOM DEFENSE ELECTRONICS”, the existing narration betwixt the two parties was expanded with the mentation of a caller statement of 5.7 cardinal dollars and a duration of astir 24 months for the operation of metallic parts of defence systems with an export orientation.

After the caller contract, the total outstanding equilibrium of the Company towards “INTRACOM DEFENSE” amounted to 10.10 cardinal euros connected 31.12.2024.