THEON expands global footprint by establishing Theon Belgium and investing in ANDRES

THEON expands global footprint by establishing Theon Belgium and investing in ANDRES

Benzinga
July 29, 2025

PRESS RELEASE

Bloomberg (THEON:NA) / Reuters (THEON.AS)

THEON announces formation of Theon Belgium subsidiary and establishment of new facilities in Belgium.

Minority stake acquisition in Andres Industries to expand European presence and enhance digital/thermal capabilities.

29 July 2025 - Theon International Plc (THEON) is pleased to announce the formation of its 100% owned subsidiary, Theon Belgium. This strategic move follows the growing global traction of its A.R.M.E.D. product series and the high growth prospects for this line of products. Via its new wholly owned Theon Belgium, THEON is establishing a new production facility at Zaventem as well as a liaison office in Brussels for European Union/NATO programs.

THEON has already appointed a Belgian citizen as the designated Plant Manager. His primary responsibilities in the initial phase of the company will include overseeing the setup of the facility and recruiting the necessary personnel—up to 12 employees in the first phase—with the objective of commencing production in Q4. The new production facility will be located within the Ikaros Business Park in Zaventem, a strategic industrial hub near Brussels that hosts several high-tech companies. The facility spans 420 square meters, offering ample space for both manufacturing and future R&D integration as part of THEON's long-term operational expansion in the region.

Theon Belgium has already signed local cooperation agreements with the major electrooptic manufacturers and local producers of subcomponents and intends to take advantage of the country's inroads in the thermal/digital oriented capabilities. This investment will establish an export-oriented hub that will not only facilitate local end- user needs but also support THEON's global customer base.

As previously communicated, THEON plans to increase the proportion of the A.R.M.E.D. products in its annual revenue from below 10% expected ...

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