Switzerland's RUAG International, which wants to shift its focus to the growing space market, announced on 16 November that it is negotiating the sale of its Simulation & Training (S&T) business to France's Thales Group.
RUAG S&T develops, manufactures, and supports simulation and training systems for defence and security forces. It employs approximately 500 people in Switzerland, France, Germany, and the United Arab Emirates, and expects to generate sales of EUR86 million (USD97.6 million) in 2021.
Thales, which has a 1,000-employee Training & Simulation business of its own, said the acquisition will bolster its relationship with the Swiss army and strengthen its footprint in Europe and the Middle East.
RUAG and Thales said they expect to complete the transaction in 2022 after clearing regulatory reviews.
RUAG S&T is part of RUAG's MRO International division, which RUAG plans to divest along with its ammunition-making Ammotec division and possibly its Aerostructures division. RUAG, whose other division is Space, announced in March that it wants to become a space company called Beyond Gravity.
MRO International has sold its aircraft maintenance and repair unit in Germany to General Atomics Europe, and its maintenance, repair, and overhaul operations in Malaysia to Global Systémes Asia. MRO International owns aircraft maintenance unit RUAG Australia.
Looking to read the full article?
Gain unlimited access to Janes news and more...
