Plasan and SK Group intend to acquire Hellenic Vehicle Industry to produce combat vehicles in Greece.

According to information published by the Greek Reporter website on August 6, 2020, Israeli companies SK Group and Plasan intend to acquire 90% of the Hellenic Vehicle Industry (ELVO), a manufacturer of military vehicles based in Thessaloniki.
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Greek army 4K 7FA tracked APC armored personnel carrier vehicle. (Picture source Greek Military.net)

Hellenic Vehicle Industry has manufactured military and civilian trucks based on Steyr trucks from Austria and military Jeep Mercedes-Benz G-Class produced under license in Greece. The company has also manufactured Leonidas Armored Personnel Carrier APC, a local-version of the Austrian 4K 7FA tracked armored which is already in service with Austria, Bolivia, Cyprus, Greece, and Nigeria.

SK Group of Israel operates as a holding company. The Company, through its subsidiaries, comprises a group of companies that includes manufacturing of electro-optics equipment, weapons, ships, optical periscopes, and laser and night vision systems.

Plasan Sasa is an Israeli Company, established in 1985, who develops, manufactures, and assembles custom-built vehicle armor systems and chassis up-armor designs as well as Add-On Armor Protection Kits for lightweight military tactical trucks and APCs, for fixed and rotary-wing aircraft, commercial vehicles, and is a major supplier of personnel protection armor.

The new consortium of the two Israeli companies will exercise joint control over 90% of the newly-reconfigured ELVO as soon as the takeover occurs, which may happen as soon as August 27n 2020, according to the Greek Reporter website.

The new company will produce new combat vehicles that will replace old Steyr and Mercedes vehicles in service with the Hellenic armed forces.