EXPOSEC-DEFENSEWORLD 2014's Greek Defense Industry Focus

Through the lens of international investors, who not only envision but also state their active presence for the creation of a new Greek “Multinational” Aerospace/Aviation Industry, which will put an end to the existing stalled development model of the industry, by transforming it into a starting point for development, success and international leadership, ONEX Group and specifically the US subsidiary of the Group “ONEX Technologies Inc” participated successfully.

Panos Xenokostas, President & Managing Director of ONEX, reiterated once more his keen interest and his investment proposal, on behalf of the US investments funds that he represents, for the Hellenic Aerospace Industry. This proposal refers to the implementation of foreign models upon the wasteful defense industry, which will reciprocate successfully to the latest economic developments and international competition.

Therefore, only through private partnerships with the participation of the State, with privatizations and investments, can the page be turned for the Greek defense industry and move on to the Next Day. As Mr Xenokostas stated “investors are seeking Industries which contribute to the development of their Country and avoid countries which impede the development of their industry.”

The immediate conclusion of strategic partnerships and synergies of the Country’s capabilities for an international prospect is the only solution to the forlorn and almost dιlapitated defense industry sector, one characterized by the shutting down of defense companies, loss of jobs, blows to the country’s defense shield and a tarnished international image. During the last 30 years, the domestic state defense industry absorbed almost 7 billion euros and created another 7 billion euros in debts. When the Greek State changes, from the savings only, it will be able to raise the pensions of the whole Greek State by $1,000 per year for the next 15 years. Apart from savings, the Greek State can have benefits over$1.5 billion over the next 30 years through private investments and operational changes.

Therefore, there are two choices: virtual and short-term “survival” until the point of absolute bankruptcy, which has already happened to few industries and inevitably approaches all others, or here-and-now investments worth ≥ $150 million for development, job placements, exports and a powerful Greek Defense industry, worthy, proud and capable of competing with other large defense industries on a global level.”

Τhe American-Hellenic Chamber of Commerce and Symeon G. Tsomokos S.A. convened, for the second consecutive year, “EXPOSEC-DEFENSEWORLD INTERNATIONAL DEFENSE & SECURITY CONFERENCE-Defense & Security Policy: Meet the Future Challenges”, on 7 – 8 April at the Hotel Grande Bretagne. EXPOSEC held under the auspices of the Ministry of National Defense and the Ministry of Public Order and Citizens’ Protection, is the point of reference for stakeholders seeking to be informed on the latest developments in, and potential of, Greek defense & security policy issues.

This key event, took place at a critical geopolitical juncture, when Greece is experiencing economic crisis and, at the same time, is called to regain its international credibility, strengthen its defense industry by leveraging existing infrastructure and creating strategic alliances, and ensure necessary governance and orderliness at internal and external security levels.

About ONEX Technologies INC

Onex Technologies Inc is an American company based in New York, founded in 2013 aiming at the development of financial network through Investment bankers, Private Equities and Hedge funds. The company has unparalleled relations with boutique investment funds to major institutional investors. Its Investments Board consists of top investments executives, head at global investment organizations administrating assets over $ 30 billion.

Onex Technologies Inc focuses on investments in technology sectors such as Aviation, ICT, Nanotechnology and other crucial and strategic fields, while it participates in them through special purpose vehicles, that may be new companies, private equities or direct participation, depending on the investment. Geographical orientation concerns the area of SouthEast Europe, Middle East and Africa, with center of operations in Athens, where other companies of the Group are based. The company has also a presence in Brussels.