THEON Expands European Footprint with New Belgium Facility Supporting Electro-Optical Sovereignty.

Amid growing demand for augmented vision systems among European land forces, Greek group Theon International Plc announced on 29 July 2025 two major industrial initiatives: the establishment of a subsidiary in Belgium, including a production facility in Zaventem and a liaison office in Brussels, and the acquisition of a 10 percent stake in German company Andres Industries AG. These developments appear to reflect a broader strategic direction, possibly tied to an expected contract award for a consortium of both companies for the IRIS thermal imaging system for the German and Belgian Armed Forces as recently reported by other media.
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The new entity, Theon Belgium, is a wholly owned subsidiary of the group and aims to support the commercial growth of the A.R.M.E.D. product line, while reinforcing an industrial footprint close to European institutions and NATO programs. (Picture source: Theon Sensors)

The new entity, Theon Belgium, is a wholly owned subsidiary of the group and aims to support the commercial growth of the A.R.M.E.D. product line, while reinforcing an industrial footprint close to European institutions and NATO programs. The facility, located in the Ikaros Business Park in Zaventem, covers 420 square meters and will serve as a production hub for export-oriented electro-optical systems while also meeting local customer needs. It is designed to incorporate research and development capabilities in the future and is expected to employ up to 12 staff in the initial phase. A Belgian national has been appointed as plant manager, tasked with launching the facility and leading recruitment.

Concurrently, THEON has acquired a 10 percent stake in Andres Industries AG for €1.1 million, with an option to raise its shareholding to 24.99 percent within two years, for a total of €4.5 million. This investment also involved relocating THEON’s German headquarters to Berlin, within the Andres Industries premises, to facilitate operational alignment. While not directly part of THEON’s broader mergers and acquisitions strategy, the move reflects a targeted effort to establish an industrial presence in Germany in support of already active commercial opportunities in Northern Europe.

THEON and Andres Industries have already collaborated on joint bids, particularly in the field of next-generation thermal equipment. Germany’s adoption of the IRIS system, through an initial Bundestag-approved order of 4,375 units worth €49 million, as recently reported in the media, underlines the industrial rationale behind the partnership. IRIS is designed to work as a clip-on device with Mikron night vision goggles, which are already widely deployed in the Bundeswehr. The system combines thermal imaging and image intensification and includes augmented reality features and integration with digital tactical networks. It illustrates a shift toward networked infantry equipped with multispectral perception capabilities.

In Belgium, the establishment of Theon Belgium may also align with national intentions to procure similar systems within the framework of enhanced cooperation with Germany, potentially under the coordination of OCCAR. In this regard, the Zaventem facility represents a strategic asset for partial reshoring of production lines and for integrating Belgian industry into European defense programs.

These announcements fall under the company’s THEON NEXT strategy, which aims to increase the share of A.R.M.E.D. systems in its annual revenue, from less than 10 percent in 2025 to approximately 20 percent in 2026. In the medium term, THEON intends for half of its revenues to come from systems beyond traditional night vision. Further investments, acquisitions and partnerships are expected to follow, particularly in Europe and the United States.

By expanding its industrial base in both Belgium and Germany, THEON is responding to the rising demand for thermal and digital solutions, while also anticipating the development of a more integrated European defense market built around a shared industrial foundation. Τhese moves lay the groundwork for closer cooperation in the fields of augmented vision, tactical connectivity, and technological sovereignty. Whether this momentum extends to other EU member states and leads to joint initiatives coordinated by the European Union or OCCAR remains to be seen. As the contours of a European defense pillar take shape, THEON appears intent on positioning itself as a structuring player in this evolving landscape.