ECONOMY

Reservations will not be obstacle in restarting ELVO

reservations-will-not-be-obstacle-in-restarting-elvo

The process of the tender for the special management of the Hellenic Vehicle Industry (ELVO) is in progress, with the sole candidate being the Israeli joint venture of SK Group with Plasan. 

According to reports in the market, Plasan plans to close its subsidiaries in the US.

What’s more, reports say that one of its frequent partners, with whom they are currently discussing the prospect of concluding a contract for the supply of equipment of the Hellenic Armed Forces, played a role in the development of the Turkish military industry.

“All this is being evaluated,” say sources that are closely following the developments, who, however, are optimistic that the relevant reservations will not stand in the way of the ELVO restart.

SK Group’s proposal with Plasan for ELVO was submitted on July 13 and the completion of the evaluation of the business plan, which is part of the tender process, is expected to take place by August 27.