Theon Sensors

Greece’s Theon Sensors awarded by OCCAR

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The Organisation for Joint Armament Co-operation (OCCAR), has contracted a consortium of Athens-based Theon Sensors S.A. and Frankfurt-listed Hensoldt for the production and delivery of Binocular Night Vision Goggles (BNVG) under the Night Vision Capability Programme which offers the possibility for EU and non-EU countries to join via an established process. The first phase alone will amount to a high two-digit million euro value.

The contract, a result of a Europe-wide competition with a strong field of tenderers, was signed by
Andreas Hülle, Managing Director Hensoldt Optronics GmbH, Joachim Sucker, German member of the Board of Supervisors (BoS), Matteo Bisceglia, Head of OCCAR-EA, Rudy Debaene, Belgian BoS member, and Christian Hadjiminas, CEO Theon Sensors on 22 June 2021 at the OCCAR premises in Bonn.

The contract includes 4,550 for Belgian Defence and 5,000 for the German Bundeswehr, as well as an option for another 20,000 BNVG for Germany. A full maintenance and repair service for up to 15 years is also included, as well as a series of accessories that will be delivered to the users.  Deliveries will start in 2021 while the last batch under this contract will be delivered during the first quarter of 2024.

The aim of this programme is to increase Belgium’s and Germany’s night vision capability of dismounted soldiers and drivers of military vehicles.

The consortium of Theon Sensors and Hensoldt is an ideal solution for the two states currently participating in the Night Vision Capability Programme, as both companies have proven track records in the field of image intensifier technology. With the combined production capacities in Wetzlar, Germany, and Athens, Greece, very large lot sizes can be produced in short time and on short notice.

A transfer of technology from Athens to Wetzlar will enable the German company to not only assemble the BNVG locally but also to fulfil the contractual ILS obligations from a local site to Belgian Defence and the Bundeswehr, ensuring short ways and quick reaction times.

Christian Hadjminas, CEO of THEON SENSORS and President of EFA GROUP, stated:

“Given that it is the largest contract ever signed for night vision equipment in the European market and, in general, the largest direct order to a Greek defence industry, we believe that this contract is a turning point for the Greek defence industry and its potential, but also for the country itself.

Andreas Hülle, Managing Director Hensoldt Optronics GmbH, said:

“The successful cooperation between Hensoldt and Theon Sensors is a win-win situation for Belgium, Germany and our two companies. This is undoubtedly a great success in an extremely important and great competition.  This also opens the doors for synergies and co-operation in other areas within Europe.”

Hensoldt share price
(Hensoldt share price on July 2, 2021 and 1Y performance)

With production facilities and head office in Athens, Greece as well as offices in Kempen, Arlington, Abu Dhabi and Singapore and with more than 100.000 systems in service or under contract in more than 55 countries around the world, Theon Sensors  is a world-renowned and recognized manufacturer of electro-optical night vision and thermal imaging systems used by military and law enforcement customers. Theon Sensors is part of EFA Group of companies that have a leading-edge position in the international markets in the fields of aerospace, security, defense and industrial cooperation

Hensoldt is a German champion in the defence industry with a leading market position in Europe and a global reach. Headquartered in Taufkirchen near Munich/Germany, the company develops sensor solutions for defence and security applications. With more than 5,600 employees, Hensoldt generated revenues of 1.2 billion euros in 2020.  The company is listed on the Frankfurt Stock Exchange and the SDAX stock market index there.

* Theon of Alexandria (335 to 405 AD) was a Greek scholar and mathematician. Theon Sensors also stands for THermal and Electro-Optical, Night Sensors.