Storm in Serbia: Does Elbit not own the new drone factory?
A Middle East Eye investigation raises questions about the ownership structure of the new drone factory in Serbia, which Serbian authorities claim is a joint venture with Elbit Systems. UK company records show that neither Elbit nor the state-owned company Yugoimport-SDPR appear as owners. The board includes Greek, Israeli, and American citizens, but no direct representatives of Elbit. Elbit did not respond to MEE's request for comment.
An investigative report by Middle East Eye raises questions about the true ownership structure of the new drone factory in Serbia, which was presented by the authorities as a joint venture between Israel's Elbit Systems and the state-owned arms company Yugoimport-SDPR. According to British company records examined, the names of Elbit and Yugoimport do not appear as owners of the operating company, SDS Technologies, or its parent company Liberty Blue International. Instead, the board includes a Greek citizen, an Israeli lawyer who previously represented Prime Minister Netanyahu, and an American citizen of Lebanese origin. Elbit Systems did not respond to MEE's request for comment. However, the Israeli connection to the factory is evident: a senior vice president of Elbit attended the inauguration ceremony alongside Serbian President Aleksandar Vučić, who stated that this is a cooperation with Israel and that additional factories are planned. Experts quoted in the report note that local production in target countries allows the Israeli defense industry to integrate more deeply into local security infrastructures, and that the actual ownership structure requires further examination.