The sale of Patria’s space business to RUAG is now complete. On 7 May the two contracting parties completed the final transaction steps as planned. The Finnish company’s space activities are being transferred to the newly founded RUAG Space Finland, which is also taking on all 29 employees.
RUAG and Patria announced the acquisition in December 2014 (photo). RUAG Space Finland’s key product areas are spacecraft control electronics, electrical power subsystems, drive electronic units and related test equipment. The acquired space operations has been very successful and active in various satellite programs of the European Space Agency (ESA) such as the earth observation satellites Sentinel-2, Earthcare and Swarm and the Gaia space telescope.
“We are very happy to welcome the Finnish staff into RUAG. The acquisition of Patria Space is an important step towards a further internationalization of our space operations and the skills and competence of the Finnish unit will be a valuable addition to our existing capabilities,” said Peter Guggenbach, CEO of RUAG Space.
RUAG develops and markets internationally sought-after technology applications in the fields of aerospace and defense for use on land, in the air and in space. 57% of RUAG's products and services are destined for the civil market and 43% for the military market.
RUAG is headquartered in Berne, Switzerland. It has production sites in Switzerland, Germany, Austria, France, Sweden, Hungary, Australia and the USA. Around 8,100 employees - of whom 410 are trainees - generate sales of some CHF 1.8 billion.
Patria Group is a trusted provider of defense, security and aviation life-cycle support services and technology solutions. It employs about 3,500 people. Patria is owned by the State of Finland.