Israeli SK Group Acquires 100% of ELVO

The Israeli SK Group has acquired 100% of ELVO, the leading manufacturer of specialized military and civilian vehicles in Greece.

According to a related announcement, this acquisition underscores the SK Group's long-term commitment to Greece, strengthening domestic industry and promoting economic growth.

With full ownership of ELVO, the SK Group aims to leverage its expertise in the defense sector and transform ELVO into a leading production and export center. This marks the SK Group's first operational base in Europe.

ELVO has a long tradition in the Greek defense sector, producing vehicles such as the Leonidas armored personnel carriers and Mercedes-Benz G-Class jeeps. It also has a certified production and assembly line for Leopard 2 HEL tanks.

Ronen Hamudot, Vice President of the SK Group, stated that the acquisition of ELVO is a significant milestone and is committed to transforming it into a leading international production center.

The SK Group was founded by Samy Katsav and is a leading investment group with activities in many strategic sectors.

Source: newmoney.gr