Mytilineos affirms its target
The clearer strategic targeting of Athens-listed group Mytilineos to the needs of the large European and global market for new products has been sealed with the change of brand to Metlen, en route to its listing on the London Stock Exchange.
The company’s plans seem to include the production of metal structures for defense systems more dynamically, in view of the perspectives that are opening up with Europe’s defense policy.
The acquisition of a second factory by group subsidiary METKA in Volos, which was announced by owner Evangelos Mytilineos at the latest general shareholders meeting, and also his reference to the event organized by the Hellenic Federation of Enterprises (SEV) in view of the European elections, seems to be connected with these prospects.
“We will need to cut funds from health and education. And if we end up spending them, do we have to revisit the Greek defense industry?” he said in response to a question about the European Union’s defense policy, and added: “If the Greek defense systems were working now they could operate in three shifts.”
Metlen’s listing on the LSE within a year will be the next milestone, with the most likely scenario being that by then it will have grown even bigger through an overseas acquisition.
