On July 23, 2026, the Greek company Metlen, through its defense subsidiary M Technologies, announced a strategic partnership with the Cypriot firm Houtris. The two companies signed an exclusive agreement to establish a joint venture in Cyprus, aimed at developing new industrial capabilities in the defense sector.

The initiative is integrated into the European SAFE program and focuses on the production of military vehicles to bolster the Cypriot defense industrial base. The collaboration combines M Technologies' international expertise and industrial scale with Houtris's manufacturing experience and specialized knowledge of the local Cypriot market.

Beyond military vehicle production, the companies intend to explore further opportunities for the assembly, integration, support, and maintenance of various defense systems. The partnership is expected to facilitate significant technology transfer and skill development, effectively expanding the Republic of Cyprus's capacity for large-scale defense industrial operations both domestically and within the broader regional context.