SK Group and Plasan have acquired ELVO – a Greek company with advanced production experience and capabilities in wheeled and tracked vehicles. The jointly-owned company will manufacture advanced vehicles and protection solutions for various customers, in Greece and worldwide.
The acquisition results from fruitful cooperation between SK Group and Plasan, with a long-term strategy of creating a strong base in Europe, headquartered in Greece. The site in Thessaloniki will be transformed into a manufacturing hub serving the global market, and will create many new jobs in the region.
“Following a long and meticulous international tender process, the Greek government selected our bid and business plan, entrusting us with the future of one of the most accredited local companies in the EMEA region,” stated Orly Katsav, Chairwoman of ELVO and Deputy Chairwoman of SK Group. “We have already set our plans in motion, investing in infrastructure, technology and recruiting highly-skilled personnel for key positions. We believe that with our experience in defense industry, exports and manufacturing, we will soon affirm the Greek government’s choice, leading the company forward.”
“SK Group is world-renowned, with decades of proven experience in developing, manufacturing, and marketing solutions for the international defence market,” explained Dimitrios Angelopoulos, General Manager of ELVO. “Together with Plasan's rich experience and technological knowhow in the field of vehicle protection, this will enable ELVO to strengthen its presence in Europe, as well as in other regions.”
“Plasan has a successful history with ELVO, having designed and supplied armour hulls in kit form for the Hellenic Army HMMWV - the M1114GR and M1118GR HMMWVs - all of which were assembled by ELVO, and have been serving the Hellenic Armed Forces since 2004,” added Dani Ziv, CEO of Plasan. “We anticipate that our cooperation with the local authorities will continue to be fruitful.”