News & Events

SK Group and Plasan acquire Greek military vehicle company

According to reports

the company will participate – for the first time under the ownership of the Israeli companies – in a tender worth 550 million euros to replace the Greek Army’s Steyr trucks and Mercedes-Benz tactical vehicles

Israel Defense has learned

that the sale of Greek military vehicle company ELVO to a joint venture between the Israeli companies SK Group and Plasan together with a local businessman has been completed. The Greek website reported that on Friday, November 20, shortly before the expiration date, the new company ELVO (2020) was established by the new owners. Upon signing the transfer of ownership agreement, the new owners will pay an initial sum of 3 million euros, according to the report. Financial sources in Greece said that the Israeli consortium has committed to invest between 95 and 135 million euros in the company over the next 5 years.