What Mevaco does

Mevaco is a Greek-listed metal fabrication and construction company headquartered in Aspropyrgos, Attica, and traded on the Athens Stock Exchange under the ticker METK. With over 40 years of operating history, the company runs a vertically integrated manufacturing platform spanning cutting, laser-punching, forming, welding (with TUV-certified welders), and robotic electrostatic powder coating, supported by what the company describes as the largest coordinate measuring machine (CMM) in Greece (2,500 × 5,000 × 1,500 mm measuring volume). Headcount is reported as 101-250 employees, and the company operates from a 30,000+ sqm industrial footprint that is being expanded by an additional 6,000 sqm defense-focused building through 2026 (first phase targeted August 2026).

The company produces seven core product categories: sheet metal fabrications, welded metallic constructions for tunnels, bridges, and solar trackers, photovoltaic (PV) support structures with over 1 GWp installed globally, defense-grade metal welded structures (qualified by Raytheon USA per AWS D17.1, AWS D1.2, AWS D17.2, ASTM-E-1417, and ASTM-E-1444 and by Ansaldo Italy for welded aluminum, high-grade steel, and stainless steel military structures), electronic information boards for sports and transport infrastructure, composite electromechanical constructions, and architectural facades. Its primary served vertical is defense, with named customers including Raytheon (USA), Ansaldo (Italy), Naval Group (France, on the Hellenic Navy FDI frigate program), and INTRACOM DEFENSE (Greece). Secondary segments are renewable energy (PV developers served across the UK, Ireland, the Netherlands, Italy, Bulgaria, Romania, Cyprus, Greece, and Latin America) and general industrial subcontracting. Quality, environmental, occupational health and safety, and information security certifications include ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, ISO 27001:2022, EN 1090-1, EN 1090-2:2018, EN ISO 3834-2, and ISO 14064-1:2018.

Mevaco operates as a sales-led B2B manufacturing subcontractor, producing metal parts and welded constructions to customer-provided drawings and specifications on a project-by-project basis, with no publicly disclosed pricing. The company's go-to-market is direct enterprise engagement rather than distribution, and customer-segmentation is vertical-led. Defense is the strategic priority: the company is integrated into Naval Group's Hellenic Industrial Participation plan (over 120 contracts with approximately 70 Greek firms producing components for the Kimon, Nearchos, Formion, and Themistocles frigates) and has signed new defense metal-construction agreements with INTRACOM DEFENSE in 2025. The Hellenic Industrial Participation offset mechanism effectively embeds Mevaco into multi-decade program revenue. The renewable energy segment provides geographic diversification through export markets. Public disclosures emphasize capital return: a FY2025 gross dividend of €2,625,000 (€0.25 per share) was approved, and the company also benefits from EU co-funded programs (ESPA, Greece 2.0).

Name

Mevaco

Legal name

MEVACO ΑΕ

Website

https://mevaco.gr

Company type

Public

Founded year

1993

Operating status

Operating

Headcount range

101–250 employees

Short description

Greek-listed (Athens Stock Exchange: METK) metal fabrication and construction company based in Aspropyrgos. Produces sheet metal fabrications, welded structures, photovoltaic mounting systems, and defense-grade components for primes including Raytheon, Ansaldo, Naval Group, and INTRACOM DEFENSE, serving defense, renewable energy, and industrial clients.

Ownership category

akta.pro rank

Product category

Metal Fabrication

NAICS

All Other Fabricated Metal Product Manufacturing (33299), Sheet Metal Work Manufacturing (332322), Plate Work and Fabricated Structural Product Manufacturing (33231), Ornamental and Architectural Metal Products Manufacturing (33232)

SIC

Sheet Metal Work (3444), Miscellaneous Fabricated Metal Products (3490), Metal Forgings & Stampings (3460)

akta.pro primary industry

Welding, Joining & Soldering Equipment (Arc, Resistance, Friction, Brazing) (IMAHADAH)

akta.pro secondary industry

Metal Forming & Fabrication Machines (Presses, Bending, Shearing, Stamping) (IMAHADAC)

Keywords

• Sheet metal fabrication
• Welded metal constructions
• Defense manufacturing
• Photovoltaic support structures
• Structural steel fabrication

Headquarters

HQ city

Asprópirgos

HQ country

Greece

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Metal Fabrication Manufacturing Services: The company produces metal objects and products using flat steel sheets, stainless steel, aluminum sheets, copper, brass, and acrylic sheets, as well as medium-weight metal constructions for customers. Revenue is generated through project-based manufacturing contracts with customization to customer specifications.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Mevaco manufactures metal products and welded constructions to customer specifications using processes including cutting, laser punching, bending, pressing, welding, and electrostatic painting. Its portfolio spans precision sheet metal fabrications, structural steel welded constructions, photovoltaic support structures, defense-grade welded structures, electronic information boards, composite electromechanical constructions, and architectural facades for defense, renewable energy, industrial, and infrastructure clients. The company acts as a project-based manufacturing subcontractor with over 30,000 sqm of covered industrial space.

Product overview

MEVACO is a leading industrial metal fabrication and construction company listed on the Athens Stock Exchange, offering precision metalworking and welding services. The company operates a multi-product portfolio centered on seven core offerings: Sheet Metal Fabrications (cutting, drilling, forming, welding, painting), Welded Metallic Constructions (structural steel for tunnels, bridges, solar trackers), PV Support Structures (fixed and rotating solar panel foundations with over 1GWp installed globally), Metal Welded Structures for Defense Applications (Raytheon and Ansaldo-qualified military hardware), Electronic Information Boards (timing/scoring systems), Composite Electromechanical Constructions (shelters, toll booths, sound attenuators), and Architectural Facades (building cladding). The company also operates specialized departments for laser-punching, presses (up to 400 tons), electrostatic painting, and electronic board construction, serving diverse sectors including defense, renewable energy, infrastructure, sports, and architecture.

Differentiator

Problem solved

Functional benefit

Products and services

• Sheet Metal Fabrications Precision sheet metal fabrication services including cutting, drilling, forming, welding, and painting of carbon steel, stainless steel, aluminum, copper, brass, and acrylic sheets for industrial manufacturers across household appliances, beverage coolers, heating systems, electronic boards, and architectural facades.
• Welded Metallic Constructions Medium-weight steel welded structures built from structural sections (IPE, IPN, HEA, HEB, UPN) for tunnel supports, lattice girders, solar trackers, bridges, railings, and custom structures, supplied to industrial and infrastructure customers.
• PV Support Structure Fixed and rotating metal support structures for photovoltaic parks, with over 1,000 MWp (1 GWp) installed globally, using Magnelis ZM 310 S350 steel with a 25-year warranty, supplied to solar energy developers and EPCs.
• Metal Welded Structures for Defense Applications Military hardware welded applications built to print, with qualifications from Raytheon USA and Ansaldo Italy for welded aluminum, high-grade steel, and stainless steel structures for missile systems, battle tanks, decoys, and surveillance vehicles.
• Electronic Information Boards Electronic timing, scoring, and announcement systems for sports fields, airports, train stations, bus stations, toll fare stations, roads, highways, tunnels, bridges, municipalities, and hospitals.
• Composite Electromechanical Constructions Complex electromechanical assemblies including PV installation shelters, toll booths, sound attenuators, automatic vending machines, shop equipment, railway equipment, and energy facades.
• Architectural Facades Building cladding and aesthetic improvements for internal and outdoor applications, including prepainted aluminum energy facades (ENF) in custom designs for architectural projects worldwide.

Quantifiable outcome

• Over 1,000 MWp (1 GWp) of PV installations delivered
• +1 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Naval GroupcoreStrategic or Co-development Partner · 23 June 2026Mevaco participates in Naval Group's FDI frigate program through the Hellenic Industrial Participation plan. Over 120 contracts with approximately 70 Greek companies have been signed, integrating Greek firms into Naval Group's supply chain for both French and export FDI programs. The company produces components for the Greek Navy's Belharra frigates including the Kimon, Nearchos, Formion, and Themistocles.
• INTRACOM DEFENSE AEcoreStrategic or Co-development Partner · 13 March 2025Mevaco has entered into new agreements with INTRACOM DEFENSE for the production of defense metal constructions. The company installed the largest CMM in Greece specifically for precision constructions undertaken in collaboration with Intracom Defense Electronics. Multiple announcements indicate ongoing new agreements between the companies.
• FINCANTIERI S.p.AminorStrategic or Co-development Partner · 14 October 2022Mevaco signed a Memorandum of Understanding (MoU) with FINCANTIERI, the Italian shipbuilding company. The partnership explores potential collaboration in naval defense construction programs.
• RaytheoncoreTechnology or IntegrationMevaco has received qualifications from Raytheon (USA) for fusion welding per AWS D17.1 & WS33739 & AWS D1.2 & WS33739 Appx.2, spot welding per AWS D17.2, penetrant inspection per ASTM-E-1417, and magnetic particle inspection per ASTM-E-1444. The company is an approved source of supply for Raytheon defense products.
• AnsaldocoreTechnology or IntegrationMevaco has received approval as subcontractor from Ansaldo (Italy) for defense systems manufacturing. This qualification enables the company to supply welded aluminum, high-grade steel, and stainless steel structures for Italian defense programs.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Elval (ElvalHalcor): Greek-based aluminium rolling and fabricated metal products company (part of Viohalco). Highly comparable to Mevaco as a fellow Greek industrial metal fabricator with export orientation across packaging, construction, automotive and industrial end-markets.
• Halcor (Cenergy Holdings): Greek copper and brass tube/rod manufacturer under Cenergy Holdings. Comparable to Mevaco as a Greek-based fabricated metal products maker selling into construction, HVAC, renewables and industrial customers across Europe.
• PVHardware (PVH): Spanish manufacturer of fixed-tilt and single-axis solar trackers plus mounting structures. Direct segment competitor to Mevaco's PV Support Structure business (over 1 GWp installed) operating in the same utility-scale solar market.
• Array Technologies: US-listed (NASDAQ:ARRY) manufacturer of solar trackers and mounting structures. Compares to Mevaco's PV mounting business as a global player in utility-scale solar tracker/structure supply, now expanding into European and Latin American markets where Mevaco also operates.
• Corinth Pipeworks (Cenergy Holdings): Greek steel pipe manufacturer for energy and construction. Comparable to Mevaco as a Greek-listed industrial metal fabricator with a project-driven business model serving infrastructure and energy customers.
• Soltec: Spanish vertically integrated solar tracker and PV mounting company listed on BME Growth. Comparable to Mevaco's PV segment and increasingly competing for the same utility-scale solar tracker and structure contracts.
• Schletter Group: German manufacturer of PV mounting and ground-mount systems. Direct competitor to Mevaco's PV support structure line, serving European utility-scale solar developers with comparable steel-based mounting products.

Broad incumbents

• Voestalpine: Austrian-listed global steel processor and metal fabricator. Operates broadly in the same metalworking and welded structures space as Mevaco, including rail, automotive and industrial fabrication, but at vastly larger scale and with broader geographic reach.
• SSAB: Swedish-listed global steel producer with strong specialty steel and quenched & tempered plate offering. Comparable to Mevaco as an input/adjacent player in the metal fabrication value chain, though several tiers larger and more upstream.

Others

• Fincantieri: Italian global shipbuilder and naval defense contractor. Not a peer in fabrication, but directly relevant: signed an MoU with Mevaco in 2022 for potential naval defense collaboration and serves as both a customer-class buyer and competitive threat for defense welded structures.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubemevaco.gr/images/logo/youtube.jpg

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mevaco