estimated between 60 and 80 million euros, According to reports well-informed sources, the funding they will receive Greek defensive systems from the allocation of European funds in the context of the steps taken to strengthen it European defense industrybased on the increased need for defense materials arising from war in Ukraine.

The same sources claim that the decision to “launch” a specific Hellenic Defense Systems (EAS) program was made after the visit of the Commissioner for the Internal Market of the European Union to our country last Friday. Thierry Breton. If such an agreement is implemented, it would be a valuable and bold liquidity injection for Hellenic Defense Systems and ammunition factory in Lavrio. Characteristically, the group’s turnover in 2021, the latest year for which published data is available, was at the level of 6 million euros, and the after-tax result was 85 million losses. But even in 2020, although the turnover is higher, it is only 16.4 million, despite the unprofitable (-129 million) use. It becomes clear that the provision of a project even for 60 million can significantly strengthen the company’s financial position. European Commissioner Thierry Breton was in Greece on an informal tour of eleven EU countries to explore and assess how existing defense industry facilities can be used to increase ammunition production to meet needs and shortages resulting from the military conflict in Ukraine. Mr. Breton, accompanied by the Minister of National Defense Nikos Panagiotopoulos and the technical level of the EU, visited EAS, where a presentation was made of the company’s production capabilities, especially in relation to the production of 155 mm shells. The European delegation then visited the EAS facilities in Imittos and Lavrio.

A plan to strengthen the European defense industry and the visit of Commissioner Thierry Breton to our country.

According to sources familiar with the details of the visit, the Lavrio unit was of particular interest, where the European delegation seemed to appreciate the conditions, the combination of infrastructure and know-how for missile production. . According to the Greek company, “the complex in Lavrion, Attica, is engaged in the loading and assembly of medium and large caliber ammunition, bombs, anti-tank and missile warheads, the production of launchers and the assembly of anti-tank missiles. and finally in the production of silica propellants. It has been NATO-certified as a Missile Assembly and Disassembly Facility (MADF) and is one of the few in the world to hold this certification.

On the Greek side, in addition to providing funding for the strengthening of the defense industry and its mandatory inclusion in European plans, to achieve the maximum possible autonomy of the EU. in the production of defense equipment, the prospects for a significant modernization of the production units available in our country are being assessed. So, during the visit to Breton, information was given about production capabilities, as well as their significant strengthening, since from the EU. there will be readiness and assistance in strengthening and modernizing the ESA infrastructure.

In his speech yesterday in Brussels, Thierry Breton mentioned his recent visit to Athens and visits to EAS facilities. He stressed that there are production capabilities from Greece and there is an urgent need to upgrade Ukrainian equipment, and that there is a willingness to participate and cooperate on the part of everyone, including our country. Finally, he specified that the money would be allocated through the European Defense Fund.