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SK Group and Plasan Jointly Acquire Greek Firm ELVO 

Atul Chandra - : Jul 9, 2021 - : 5:52 pm

Israel’s SK Group – a privately held holding company specializing in global frontline defense, law enforcement solutions, marine infrastructure and property development, and Plasan – a global leader in offering safer vehicle environments and survivability solutions for defense and security forces, have announced their acquisition of ELVO a Greek company with advanced production experience and capabilities in the field of wheeled and tracked vehicles.

The acquisition is being made with the 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.

The jointly-owned company will manufacture advanced vehicles and protection solutions for various customers, in Greece and worldwide.

“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,” says 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 defense market,” says 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. We are pleased with the cooperation with the Greek Government after an extensive evaluation and tender for the purchase of ELVO.”

“Plasan has a successful history with ELVO, having designed and supplied armor 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,” says Dani Ziv, CEO of Plasan. “We anticipate that our cooperation with the local authorities will continue to be fruitful.”

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