Metlen and Houtris Establish Defense Industry Venture in Cyprus

Greek energy company METLEN announced on Friday, July 23, 2026, the establishment of a joint venture with Cypriot firm HOUTRIS. Through its subsidiary M Technologies, METLEN has signed an agreement aimed at developing new capabilities for the industrial production of defense systems within the Republic of Cyprus.

This strategic partnership deepens industrial cooperation in the defense sector between Greece and Cyprus. The new joint venture, to be based in Cyprus, aims to enhance the country's manufacturing, integration, and support capabilities for defense equipment. The project is expected to transfer international expertise and advanced production capacities from METLEN to HOUTRIS's established local industrial base.

Initially, the joint venture will focus on producing military vehicles as part of the European SAFE program. Furthermore, the companies will explore broader opportunities in the manufacturing, integration, maintenance, and support of defense systems in Cyprus and the wider region. The goal is to establish a permanent industrial presence on the island and create significant added value for the Cypriot economy.

METLEN's defense arm, M Technologies, has previously been involved in complex defense programs, including the production and support of Patriot systems, Leopard tanks, and Hellenic Navy frigates. The partnership with HOUTRIS solidifies METLEN's position within the European defense industry.