BUSINESS

German KMW picks METKA for Middle East contract

Athens Stock Exchange-listed engineering company METKA has been commissioned by Germany’s Krauss Maffei Wegmann (KMW) to construct the armored hulls and towers for 62 Leopard 2 tanks, the company said in a statement on Monday.

The tanks have been ordered by a Middle Eastern country that was not named.

The deal is worth 56.5 million euros and is expected to be signed soon.

METKA – a Mytilineos group subsidiary – and KMW first collaborated in the production of 12 Leopard 2 HEL armored recovery vehicles (ARV) for the Hellenic Army in 2003 – a deal which involved the extensive transfer of know-how and considerable investment in state-of-the-art technology at METKA’s two factories in the area of Volos, central Greece.

METKA specializes in large-scale energy projects. It is currently constructing projects totaling more than 5,000 MW in six different countries (Greece, Turkey, Iraq, Syria, Algeria and Jordan).

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