ATHENS --- An Israeli consortium of the firms SK Group and Plasan intend to acquire 90% of the Hellenic Vehicle Industry (ELVO), which will manufacture tanks for the Greek Army as well as the Greek police.
As reported in Auto News, the new company, which will be headed up by Greek businessman Aristides Glinis, will be in place within three months, according to the plans announced by the consortium.
CEO Samy Katsav from the SK Group and Dani Ziv, from Plasan, will exercise joint control over 90% of the newly-reconfigured ELVO as soon as the takeover occurs, which may happen as soon as August 27. It is thought that the Israeli venture was brought about by the consortium’s desire to make a deeper imprint into the EU/NATO and international markets. (end of excerpt)
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