METLEN and HOUTRIS strategic defence partnership
Metlen Energy & Metals PLC
23 July 2026
PRESS RELEASE
METLEN and HOUTRIS announce strategic defence industrial partnership in Cyprus
· An Exclusive Partnership Agreement that strengthens the industrial cooperation between Greece and Cyprus in defence
· The new joint company will undertake the production of defence land systems under the European SAFE programme
· Tangible industrial footprint and value for Cyprus' economy
Athens, Greece / London, United Kingdom - 23 July 2026 - METLEN, through M Technologies, has signed an Exclusive Partnership Agreement with Cyprus-based HOUTRIS to develop new industrial capabilities in defence systems in the Republic of Cyprus.
The agreement provides for the establishment of a joint company in Cyprus and further strengthens strategic industrial cooperation between Greece and Cyprus in defence. It is intended to build additional production capabilities in the Republic of Cyprus and expand the Cypriot industry's ability to manufacture, integrate and support defence equipment.
The partnership will bring together M Technologies' international experience, know-how and advanced industrial capabilities with HOUTRIS' long-standing industrial expertise and manufacturing capabilities in Cyprus. It also provides for the transfer of know-how, the development of specialist skills and the further strengthening of Cyprus' defence industrial base, supporting the faster development of large-scale production capabilities in integrated defence systems.
Under the European SAFE programme, the new entity will move ahead with the production of military vehicles. The two companies will also explore further opportunities to produce, integrate, support and maintain defence systems in Cyprus and the wider region, with the aim of establishing a long-term presence in the country, a tangible industrial footprint and meaningful added value for the Cypriot economy.
M Technologies is METLEN's defence arm and has significant experience in delivering complex defence industrial programmes. It contributes to the production and support of advanced defence systems, including Patriot systems, Leopard tanks and sections of the FDI HN (Belharra) frigates, while developing strategic partnerships with leading international defence companies.
Vassilis Tsiamis, Chief Executive Director of M Technologies, said: "Strong industrial capabilities in Europe are essential to security, competitiveness and strategic autonomy. This agreement is an important step in that direction and creates a new model of industrial cooperation between Greece and Cyprus. Our aim is to support the further development and faster expansion of the Republic of Cyprus' defence industrial capabilities through the transfer of know-how, the development of specialist local skills and the use of existing capabilities within Cypriot industry."
HOUTRIS is an established industrial company in the Republic of Cyprus, specialising in defence, special vehicles and integrated industrial solutions. The company has significant experience in the development, manufacture, integration and technical support of specialised vehicles and defence systems, having delivered complex projects for the Ministry of Defence, the National Guard, the Fire Service and other government organisations in Cyprus and abroad. It is also developing strategic partnerships with leading international manufacturers and defence companies, further strengthening its position as a strategic industrial partner in the Republic of Cyprus' defence sector.
Yiannis Houtris, CEO of S. Houtris & Sons Ltd, stated: "Cyprus now has the know-how, experience and industrial base to play a meaningful role in the European defence industry. HOUTRIS has long worked towards this objective, investing continuously in the development of people, know-how and industrial capabilities in the Republic of Cyprus. This strategic initiative is another important step towards strengthening Cyprus' defence industrial base, creating the conditions for sustainable growth, technological development and the establishment of Cyprus as a reliable industrial partner in the European defence industry."
The initiative is aligned with European priorities to strengthen the European Union's defence industrial base and make use of new financing and industrial tools designed to promote European strategic autonomy and resilience.
Notes to editors:
Photographic material for METLEN and its activities can be found here.
For further information please contact:
Ms. Antigoni Fakou: METLEN Press Office, Tel. +30210-6877346 | Fax +30210-6877400 | E-mail: Antigoni.fakou@metlen.com
About METLEN:
METLEN Energy & Metals Plc (METLEN) is an international industrial and energy Company, holding a leading position in the metals and energy sectors, focused on sustainable growth and the circular economy. METLEN has established itself as a benchmark in competitive "green" metallurgy at both European and global level, operating the only fully integrated bauxite, alumina and primary aluminium production unit in the European Union, with privately owned port facilities. In the Energy Sector, METLEN provides integrated energy solutions through the implementation of thermal and renewable power generation projects, electricity distribution and trading, as well as investments in network infrastructure, battery storage and other green technologies. METLEN operates across five continents and in more than 40 countries, employing over 8,500 people worldwide and implementing a fully synergistic model across its Sectors.
METLEN Financial Highlights
METLEN has its primary listing on the London Stock Exchange and secondary listed on the Athens Stock Exchange and is a constituent of the FTSE 100 Index. In 2025, METLEN reported consolidated revenue of €7.11 billion and EBITDA of €753 million with net profit of €314 million. Adjusted net debt stood at €2.10 billion, with a Net Debt/EBITDA ratio of 3.1x, reflecting strong financial resilience. METLEN is rated by leading international sustainability and ESG agencies, holding the unique Greek position in the Dow Jones Best-in-Class Emerging Market Index, and distinguished across MSCI, Sustainalytics, ISS Quality score, ISS Corporate Score, S&P Global ESG, LSEG, CDP, FTSE Russell, ESG Book, EcoVadis, Bloomberg and IdealRatings.
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HOUTRIS:
HOUTRIS is one of the key pillars of Cyprus' defence industry, with more than 45 years of continuous presence, proven know-how and active participation in the implementation of complex defence, government and industrial programmes in the Republic of Cyprus.
The company has developed significant expertise in the design, integration, manufacturing, technical support and management of complex projects for the Ministry of Defence, the National Guard, the Fire Service, the Police and other public organisations of the Republic of Cyprus.
In recent years, HOUTRIS has been systematically strengthening its position in the defence industry, participating in international defence programmes and developing strategic partnerships with leading international manufacturers and defence organisations.
At the same time, the company is implementing an ambitious programme to expand and upgrade its industrial capabilities in the Republic of Cyprus, further enhancing its ability to support complex high-technology projects and contribute meaningfully to the development of Cyprus' defence industrial base.
Notes to editors:
Photo material for HOUTRIS and its activities can be found at https://defence.houtris.com/ and https://houtris.com/ .
For more information about HOUTRIS, please contact:
Ms Maria Savvidou Tel. +357 24 811216 | E-mail: info@houtris.com
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