Your Eminence, Metropolitan of Demetrias and Almyros,
Minister of National Defence,
Minister of Development,
Former Deputy Prime Minister and former Minister of Defence
Your Excellencies, Ambassadors,
Chief of the Hellenic Army General Staff,
Members of Parliament,
Governor of Thessaly,
Mayor of Volos,
Distinguished representatives of the Region and Local Government,
Distinguished representatives of Greek and international industry,
Dear colleagues, employees and friends of METLEN,
Ladies and gentlemen,
It is with great pleasure that I welcome you today to the inauguration of the fourth unit of the defence hub that METLEN has created in Volos, which now consists of six units. It is a complete, vertically integrated industrial complex of more than 100,000 square metres, capable of supporting multiple defence programmes simultaneously — at Greek, European and wider international level.
And I would like to begin by underlining the importance of a strong Greek defence industry for the protection of our national sovereignty. I am certain that the example of unfriendly neighbouring countries is in all our minds.
This investment is not an isolated one. It is part of our broader industrial strategy, which connects energy, metals, recycling and defence into a single productive ecosystem. And this is METLEN’s real competitive advantage.
But for us, today is not simply the inauguration of yet another industrial unit, another factory. It is part of a defence-industrial ecosystem that will be distinguished not only by its performance in global markets, but also by its role in the Group’s expanding contribution to strengthening our country’s defence capabilities.
We live in an era in which the concept of security is returning to the core of economics and politics, as global balances are being overturned at a speed that would have been difficult to predict only a few years ago. Geopolitical developments, new challenges and the reshaping of international alliances have created a new framework in which countries, economies and societies are required to redefine their priorities.
Greece, Europe and indeed the whole world are facing a historic challenge. We must be better prepared, more self-sufficient and more capable of protecting our interests in an environment where traditional certainties have diminished. Supply chains, markets and partnerships are being reshaped, while new opportunities as well as new vulnerabilities are emerging.
Under these conditions, the concept of strengthening our defences now takes on a broader meaning: it concerns not only defence capability, but overall resilience, energy sufficiency, the industrial base, technological independence and the ability to produce critical infrastructure and products ourselves.
Industrial strength is not merely an economic advantage. It is necessary strategic capital, a condition for social cohesion. Countries with a productive base, know-how and the capacity for innovation are not only more prosperous, but also more resilient and more influential in shaping developments.
And at this point, with the permission of the representatives of the State who are here today, I would like to stress that the time has now come for the Armed Forces and Greek industry to come much closer together than they have until now - as is the case in all developed countries.
The Armed Forces are right to require that, within the country’s fiscal capabilities, the money of the Greek people is invested in the most appropriate and efficient way. And naturally, they would also want Greek products, but without any compromise on the quality of those products. METLEN’s defence hub at the centre of the country gives the Armed Forces greater scope to procure Greek defence systems. Achieving this partnership will bring major benefits in the future for defence, the economy and society more broadly. This is precisely why investments such as the one before us today are of particular importance. Because they do not only respond to today’s needs. They create the conditions for Greece to be better prepared for a future that remains more complex and more demanding.
Ladies and gentlemen,
Europe, and indeed the whole world, is entering a phase of defence reindustrialisation. Initiatives such as SAFE, the exemption of defence spending from fiscal rules, the European Defence Fund, joint procurement and the European Defence Investment Programme all point to efforts to address these challenges seriously.
This framework, however, is not sufficient on its own for Greece. The decision by the Mitsotakis Government and the Minister of National Defence, Nikos Dendias, to require 25% domestic production participation in all defence programmes is a step in the right direction which, among other things, also upgrades the technological capabilities of Greek industry. I would also like to take this opportunity to suggest to the Minister of Defence present here today that bids exceeding the 25% threshold should receive additional points in the relevant evaluations - for the benefit of all, as I said earlier.
At METLEN, we are contributing to this effort in every way, with all our energy: with execution capability and with industrial infrastructure that is not merely being planned - it has already been created. From two factories, we have reached six in a very short period of time, with units that are operating, being built and expanding simultaneously.
And the real footprint is not only quantitative. It is also qualitative:
Research and development, transfer of know-how, skills upgrading, and the retention of human capital in the region. At the Capital Markets Day in London in April 2025, we presented our strategic transformation. Today, here in Volos, we see one of the clearest examples of what this means in practice. Not as a forecast, but as delivery.
Allow me to close with a more general observation, concerning not only today’s investment but the overall trajectory of the Greek defence industry.
Today, based on the companies that survived the decade-long economic crisis thanks to their export orientation, Greece can create real miracles in the air, on land and at sea — such as METLEN’s defence hub.
This direction is supported by the new European reality and the rise in global demand for defence products.
A strong Greek defence industry, ladies and gentlemen, is a prerequisite for safeguarding national sovereignty and requires the contribution of all: the companies themselves, our employees, the State and, above all, our Armed Forces, of whom we have all always been proud.
Thank you.
