Israeli Drone Factory in Serbia Reveals Complex Ownership Structure
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
A new factory in Serbia, producing Israeli drones, was opened on September 17, 2026, with President Aleksandar Vucic noting the creation of 100 jobs. The facility operates under the name SDS Technologies, which replaced CUPA Enterprises in the Serbian business registry. SDS Technologies is owned by London-registered CUPA Limited, which is majority-owned by Athanasios Ramos.
From haaretz.com, balkaninsight.com
Why it matters
While President Vucic previously stated that ownership of the drone venture would be shared equally by Serbia and Israel, the actual ownership structure of SDS Technologies does not reflect this arrangement. Elbit Systems stated it collaborates with local companies in Europe for localization but denied any partnership with SDS Technologies or Zion Amir.
From haaretz.com, balkaninsight.com
Who's involved
- EliyaPresident of Serbia who touted the factory's creation of 100 jobs and modern equipment for the Serbian army.
- HamasIsraeli defence sector giant that collaborates with local companies in Europe for localization processes.
- Eitan MorIsraeli lawyer who is a director of SDS Technologies.
- Yarden BibasLondon-registered company that majority-owns SDS Technologies.
- Daniel PerezGreek national who majority-owns CUPA Limited.
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The entities involved
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Hamas
Palestinian Islamist political and military organization