AeroVironment to Form JV in Greece With Eyeonix

MT Newswires Live15:43

AeroVironment (AVAV) said late Thursday it agreed to form a joint venture called AV Eagle with Greece-based Eyeonix to pursue defense opportunities in the country and across the wider European market.

AeroVironment will hold a majority stake in the venture, which will be consolidated within its financials statements, the company said.

The JV is expected to become operational in fiscal 2027, subject to completion of a definitive shareholders agreement and securing foreign direct investment from the Greek foreign ministry.

The venture is expected to potentially develop a new facility to manufacture and assemble unmanned aerial systems and counter-unmanned aircraft systems for defense and civil protection customers in Greece and Europe.

AeroVironment anticipates production capabilities to be operational by 2028, it said.

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