Ruag sells further parts of its international activities in Germany. The group cedes the areas of maintenance, repair and operation for business aircraft and military helicopters in the Bavarian town of Oberpfaffenhofen.
The General Atomics Europe technology group is taking over the maintenance, repair and operation of business aircraft and military helicopters from Ruag International in Oberpfaffenhofen. According to a report from Ruag International on Friday, the manufacture and maintenance of the Dornier 228 aircraft will also go to the new owners.
According to the announcement, the two companies signed an agreement on the takeover on September 30th. This is still subject to the approval of the authorities, but Ruag is expecting implementation this year, it said. The parties had agreed not to disclose the financial modalities.
The 450 employees who work in the relevant areas will be taken over by the new owners, as the communiqué continues.
The sale is part of a restructuring of Ruag. In spring 2019, the Federal Council decided to split the group into a new holding company with two legally and financially independent sub-holding companies: on the one hand, Maintenance, Repair and Operation (MRO) Switzerland, which works for the army, and, on the other, Ruag International for the others Business areas.
The international part consists of the aerospace and aircraft structural parts divisions, which will form the future core business. The aerospace structure division with 800 employees in Oberpfaffenhofen will remain in the possession of Ruag.
The ammunition division, the cybersecurity business and the maintenance division MRO International, which includes the military simulation and training business, are to be sold completely. In this context, Ruag sold the two locations specializing in business jets at Geneva-Cointrin and Lugano-Agno airports in July 2019. After the sale of the units that do not fit into this new, civil-oriented group, the international aerospace technology company is to be gradually privatized.
Published: October 16, 2020, 2 minutes ago
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