Metlen Energy & Metals announced on Monday it had signed a Memo of Understanding (MoU) with Italian Iveco Defence Vehicles (IDV) for an exclusive collaboration in joint participation for the upcoming program announced recently by the Greek Defense Ministry for the upgrade of the Hellenic Armed Forces.
The agreement with Iveco Defence Vehicles (IDV), a subsidiary of the Agnelli family holdings, and one of the leading European companies in the production of military vehicles, aims to leverage the technical know-how and experience of the two corporations to provide advanced solutions for the Greek defense industry with the potential of and potentially the armed forces of other European countries.
IDV has a presence in over 160 countries and specializes in manufacturing professional vehicles, buses, and military vehicles. As a subsidiary of the Iveco Group, IDV is a key player in the defense sector, particularly within Europe and NATO, focusing on the production of military trucks, armored vehicles, and defense solutions for armed forces worldwide.
The Metlen-Iveco deal is considered a crucial and strategic move for both European and Greek defense under the framework of ReArm Europe. This initiative seeks to reinforce the European defense industry and reduce dependence on third countries. By manufacturing military vehicles in Greece, the country is further integrated into European defense supply chains, enhancing its defense capabilities and contributing to Europe’s overall industrial and logistical self-sufficiency.
The signing of the MoU highlights IDV’s leadership role in the European defense industry, where it is considered a key player in land defense. The collaboration aligns with the broader European strategy to enhance defense autonomy and industrial self-sufficiency. By formalizing their cooperation, Metlen and IDV are laying the groundwork for strengthening domestic defense production capacity while reinforcing Greece’s role in European defense initiatives.
Greece’s defense industry is becoming increasingly concentrated in Volos, and the Metlen-Iveco partnership solidifies the country’s strategic position in the sector. This positioning is further strengthened by Metlen’s investments and the European ReArm initiative, which aims to boost the continent’s defense industry.
