|
Christiane Schneider
|
|
Tuesday, 15 July 2008 |
The technology group RUAG is strengthening its position in the space business by acquiring SAAB Space with sites in Sweden and Austria.
The Board of Directors has approved the acquisition. Details of the purchase will be finalized in the next few weeks.
SAAB Space has over 30 years' experience in space activities and is a world-class independent supplier of highly qualified space equipment: computer systems, antennae and microwave electronics for satellites as well as adapters and separation systems for launchers. SAAB Space is headquartered in Gothenburg, Sweden, and has a division for mechanical systems located in Linköping, Sweden. SAAB Space also has a wholly-owned subsidiary in Vienna, Austria - Austrian Aerospace - which focuses on digital signal processing, thermal hardware, mechanisms and mechanical ground support equipment. In 2007 the company generated sales of CHF 123 m and has a workforce of 500. Exports accounted for over 90 percent of Saab Space sales. The SAAB Group has decided to sell SAAB Space as it intends to focus on its core business.
Space was defined as a strategic priority in RUAG's 2010 Group strategy. RUAG is a niche supplier and has been a reliable partner of ESA for years. The acquisition of SAAB Space will enable RUAG to round out its own aerospace portfolio with new technologies and products and to establish itself as a leading European equipment provider in the aerospace market in Europe. The activities at the Emmen, Nyon and Wallisellen sites, where around 150 employees work, will be merged with those of SAAB Space into the Business Unit Space of RUAG Aerospace. Peter Scherrer, Member of the Executive Board of RUAG Aerospace, as Executive Vice President will head the integration project.
The RUAG technology group is an international aerospace and defence company with strong technological skills. The Group's holding company is based in Berne (Switzerland). RUAG has production sites in Switzerland, Germany and Sweden. As a technology group it concentrates on three markets: Aviation & Space, Defence & Security and Ammunition & Products. RUAG's engineering skills provide the foundations of its dynamic role in development and production.
Saab serves the global market with world-leading products, services and solutions ranging from military defence to civil security. Saab has operations and employees on all continents and constantly develops, adopts and improves new technology to meet customers' changing needs. |
Aerospace Industry and Business News