Metlen defence equipment arm signs battle tank supply deal with KNDS
Metlen Energy & Metals PLC on Thursday announced the signing of a contract with KNDS Deutschland GmbH & Co for the delivery of 200 assemblies for Leopard 2A8 battle tanks.
The Athens-based aluminium producer and electricity generator said its metallurgical defence equipment arm, M Technologies, will undertake manufacturing at Metlen’s defence Hub in Volos until 2031.
‘This agreement marks a new milestone in the long-standing cooperation between the two companies, built on a relationship of trust spanning more than 23 years,’ Metlen said.
In parallel, M Technologies and KNDS are in ‘advanced negotiations’ to deepen their cooperation in other types of defence systems, Metlen said.
Shares in Metlen were up 2.7% at €41.85 each in London on Thursday morning.
Separately, Metlen said Chair & Chief Executive Officer Evangelos Mytilineos bought 10,000 shares via Kilteo Ltd at €41.95, worth €419,529, on Monday.
Mytilineos also had bought 10,000 on Wednesday last week. He has been buying shares steadily since Metlen’s London initial public offering in August. His holding is above 20%.
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