METLEN, through its M Technologies division, has proceeded with the final investment decision (FID) for the construction of its 4th factory at the 1st Industrial Area of Volos, as part of the dynamic development of its industrial complex for producing integrated defense equipment components, thus creating the METLEN Technologies Hub – a strategic defense center in the region. With this move, the company strengthens its role in the defense industry both in Greece and Europe.
Metlen: New defense hub in Volos with €50 million investment – What it will include
Just three months after Prime Minister Kyriakos Mitsotakis’s visit to the advanced-construction 3rd factory at the Volos Industrial Area – which is expected to enter commissioning phase in early 2026 – METLEN submitted a business plan for inclusion under the Strategic Investments Law, aiming to create the 4th industrial complex for integrated defense equipment components and high-technology defense products manufacturing.
The new factory will span approximately 10,000 square meters and will feature five heavy machining equipment units, as well as cutting-edge technology equipment for manufacturing Leopard 2A8 battle tanks.
The approximately €50 million investment includes:
- construction of a new heavy-duty building
- procurement and installation of machining equipment and machinery
- support infrastructure and specialized training programs
The new factory’s operation is expected to begin within the first half of 2027, creating 200–250 new jobs in the Volos region
Metlen: New investment for defense autonomy and technological development in Greece and Europe
METLEN, with this new investment, contributes substantially:
- to the defense autonomy of Greece and Europe
- to re-industrialization and development of critical technological sectors
- to strengthening defense autonomy and the country’s geopolitical position
The new investment is part of METLEN’s strategic partnerships with international defense giants, such as IVECO and KNDS, which further strengthen Greece’s position on the European map of defense industry and co-production.
Mytilineos: Faithful to our announcements for comprehensive investment plan in defense sector
Metlen Chairman and CEO Evangelos Mytilineos stated: “Faithful to our announcements about the comprehensive investment plan in the defense sector at the Capital Markets Day in April 2025 in London, METLEN takes another decisive step toward creating a modern and internationally competitive defense hub in Greece. We respond to international market demand, create hundreds of jobs, and bring cutting-edge know-how to Greece, with strategic partnerships that strengthen our country’s role in European defense. I remind you that our commitment at the CMD was for a defense hub of 5 factories. Together, they will form an interoperable defense hub of European scope, capable of simultaneously implementing multiple construction and support programs for heavy weapons systems.”
