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04-07-2025
- Business
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THEON accelerates strategic expansion in the Baltic Region
THEON representatives with Latvian Ministry of Economy at Baltic Optronics PRESS RELEASE Bloomberg (THEON:NA) / Reuters ( July 2025 – Theon International Plc (THEON), a leading global manufacturer of night vision and thermal imaging systems, today announces a significant acceleration of its strategic footprint in the Baltic defense market through a renewed collaboration in Estonia and a pivotal investment in Latvia. These moves underscore THEON's commitment to enhancing European defense resilience and strategic autonomy. Firstly, THEON proudly announces the continuation of its collaboration with the Estonian Center for Defense Investment (ECDI) of the Ministry of Defense. THEON and ECDI signed a new agreement for supplying advanced night vision systems to the Estonian Defense Forces (part of orders that have already been announced), reinforcing a vital partnership in the region. Secondly, in a landmark move to bolster its European production capabilities and presence in the region (in alignment with mid-term Capex guidance), THEON launched a strategic investment in 'Baltic Photonics', the Riga-located Latvian subsidiary of "Harder Digital". This investment marks the first phase in establishing a state-of-the-art manufacturing facility focused on the production of critical Image Intensifier Tube (IIT) components, starting with MCP (Multi Channel Plate). The facility will also provide essential assembly and maintenance services for THEON's end-products destined for the Baltic states. The new facility, which has been supported by the Latvian Ministries of Economy and Defense, will concentrate on: manufacturing critical components, strengthening the supply chain for European IIT producers localizing assembly of THEON's advanced electro-optical end-products to optimize responsiveness to Baltic states' market demands expanding production capabilities to include new opto-electronic products for the broader European market. Gabriel Robolis, THEON's Regional Director of Business Development, commented: 'This dual milestone in Estonia and Latvia is a testament to THEON's unwavering commitment to strengthening Europe's defense industrial base. By expanding our production capacity and deepening our regional footprint, we are reducing time-to-market and equipping Europe with cutting-edge technology, contributing to the continent's defense resilience and autonomy.' Picture: THEON representatives with Latvian Ministry of Economy at Baltic OptronicsFor inquiries, please contact: Investor RelationsNikos MalesiotisE-Mail: ir@ +30 210 6772290 Media ContactElli MichouE-Mail: press@ Tel: +30 210 6728610 About THEON GROUPTHEON GROUP of companies develops and manufactures cutting-edge night vision and thermal Imaging systems for Defense and Security applications with a global footprint. THEON GROUP started its operations in 1997 from Greece and today occupies a leading role in the sector thanks to its international presence through subsidiaries and production facilities in Greece, Cyprus, Germany, the Baltics, the United States, the Gulf States, Switzerland, Denmark, Belgium, Singapore and South Korea. THEON GROUP has more than 200,000 systems in service with Armed and Special Forces in 71 countries around the world, 26 of which are NATO countries. ΤΗΕΟΝ ΙΝΤΕRNATIONAL PLC has been listed on Euronext Amsterdam (AMS: THEON) since February Attachments Press Release_Baltics 04.07.2025 2 THEON representatives with Latvian Ministry of Economy at Baltic OptronicsError while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
04-07-2025
- Business
- Yahoo
THEON accelerates strategic expansion in the Baltic Region
THEON representatives with Latvian Ministry of Economy at Baltic Optronics PRESS RELEASE Bloomberg (THEON:NA) / Reuters ( July 2025 – Theon International Plc (THEON), a leading global manufacturer of night vision and thermal imaging systems, today announces a significant acceleration of its strategic footprint in the Baltic defense market through a renewed collaboration in Estonia and a pivotal investment in Latvia. These moves underscore THEON's commitment to enhancing European defense resilience and strategic autonomy. Firstly, THEON proudly announces the continuation of its collaboration with the Estonian Center for Defense Investment (ECDI) of the Ministry of Defense. THEON and ECDI signed a new agreement for supplying advanced night vision systems to the Estonian Defense Forces (part of orders that have already been announced), reinforcing a vital partnership in the region. Secondly, in a landmark move to bolster its European production capabilities and presence in the region (in alignment with mid-term Capex guidance), THEON launched a strategic investment in 'Baltic Photonics', the Riga-located Latvian subsidiary of "Harder Digital". This investment marks the first phase in establishing a state-of-the-art manufacturing facility focused on the production of critical Image Intensifier Tube (IIT) components, starting with MCP (Multi Channel Plate). The facility will also provide essential assembly and maintenance services for THEON's end-products destined for the Baltic states. The new facility, which has been supported by the Latvian Ministries of Economy and Defense, will concentrate on: manufacturing critical components, strengthening the supply chain for European IIT producers localizing assembly of THEON's advanced electro-optical end-products to optimize responsiveness to Baltic states' market demands expanding production capabilities to include new opto-electronic products for the broader European market. Gabriel Robolis, THEON's Regional Director of Business Development, commented: 'This dual milestone in Estonia and Latvia is a testament to THEON's unwavering commitment to strengthening Europe's defense industrial base. By expanding our production capacity and deepening our regional footprint, we are reducing time-to-market and equipping Europe with cutting-edge technology, contributing to the continent's defense resilience and autonomy.' Picture: THEON representatives with Latvian Ministry of Economy at Baltic OptronicsFor inquiries, please contact: Investor RelationsNikos MalesiotisE-Mail: ir@ +30 210 6772290 Media ContactElli MichouE-Mail: press@ Tel: +30 210 6728610 About THEON GROUPTHEON GROUP of companies develops and manufactures cutting-edge night vision and thermal Imaging systems for Defense and Security applications with a global footprint. THEON GROUP started its operations in 1997 from Greece and today occupies a leading role in the sector thanks to its international presence through subsidiaries and production facilities in Greece, Cyprus, Germany, the Baltics, the United States, the Gulf States, Switzerland, Denmark, Belgium, Singapore and South Korea. THEON GROUP has more than 200,000 systems in service with Armed and Special Forces in 71 countries around the world, 26 of which are NATO countries. ΤΗΕΟΝ ΙΝΤΕRNATIONAL PLC has been listed on Euronext Amsterdam (AMS: THEON) since February Attachments Press Release_Baltics 04.07.2025 2 THEON representatives with Latvian Ministry of Economy at Baltic Optronics
Yahoo
28-04-2025
- Business
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Estonia to launch explosives factory in regional rush for ammunition
WARSAW, Poland — Seeking higher domestic ammunition production capacities, the Estonian government has approved a project to build a plant that will make RDX-type explosives. The investment is considered as key for the country's plans to boost its 155mm artillery ammunition production capabilities, but also for exporting explosives to other countries facing shortages across the region, according to senior officials. Estonia's authorities have authorized the Ministry of Finance to set up a new company, Hexest AS, that is to be established in the coming weeks. The business will operate the designed RDX production facility, and it 'will be handed over to the Ministry of Defence in up to six months,' the government said in a statement. RDX is a highly energetic explosive chemical compound commonly used in military applications. 'There is a shortage of explosives production capacity in Europe, so building new capacity is essential to ensure security of supply for companies in Estonia and the wider region,' said Estonian Defence Minister Hanno Pevkur. 'The explosives plant will make Estonia more attractive as a location for the defense industry.' The state will initially own all the company's shares, but Tallinn plans to involve a strategic investor for the plant in the future. Meanwhile, the Estonian government is also readying to accommodate new ammunition plants. The cabinet is currently making efforts to settle domestic and foreign manufacturers of weapons, ammunition and equipment in different locations, among others at the defense industry park in Ämari. 'In addition to the 'mini defense industry park' in Ämari, we are also developing a national defense industry park, for which we also do not set limits on production, allowing the production of 155mm shells among other products,' a spokesperson for the Estonian Centre for Defence Investments (ECDI) told Defense News. 'It is up to defense companies to come up with production projects. The government will provide a conducive environment,' the spokesperson said. Under the plan, the ECDI will host public tenders to select investors this year. 'The establishment of an explosives plant in Estonia will be a strong added value for the Defence Industrial Park and the ammunition producers that will be operating there,' said Pevkur. Production activities at the RDX factory in Ämari are expected to begin in 2028. As part of the project, an initial contribution of up to €7.2 million ($8.2 million) will 'cover the costs of the technical design and preparatory activities. The technical design will take about a year to complete and the final investment decision will be based on its results,' the government statement said. Earlier this year, the Estonian military received the first batch of Caesar 155mm self-propelled howitzers it ordered from KNDS. Tallinn purchased 12 units in June 2024, with an option to order a further six. The howitzers will be part of Estonia's newly established 3rd self-propelled artillery battalion operating under the command of the Estonian Division, the main combat unit of the country's land forces. In the aftermath of Russia's invasion of Ukraine, a number of Eastern European allies have intensified efforts to develop their domestic ammunition production capacities, often seeking partnerships with major foreign groups. In Lithuania, Rheinmetall is advancing a project to build a plant where it will make 155mm artillery ammunition. The plant in Baisogala is to launch operations in mid-2026. As part of the investment worth around €180 million, some 150 jobs are to be created locally. Giedrimas Jeglinskas, the chairman of the Lithuanian parliament's Committee on National Security and Defence, told Defense News that Vilnius aims to attract more defense industry players, and is determined to support potential investors with various types of assistance, including financial aid. In Poland, the country's authorities have allocated around 3 billion zloty ($798 million) to fund investments in expanding the nation's ammunition production capacities, with a particular focus on 155mm artillery shells. The funds are to be provided to producers who will carry out projects in ramping up Poland-based ammunition manufacturing capacities.
