Ruag International sells Australian business

Ruag International has sold its Australian division. The Australian defense and manufacturing company Asdam is taking over all activities of the Swiss aerospace group in Australia.

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Ruag International is continuing to transform itself into a company focused on the space market: the Swiss aerospace group is selling Ruag Australia to Asdam. This was announced by Ruag on Friday. Asdam will take over all activities from RUAG Australia, including all employees at all locations in Australia.

Regulators still need to approve the acquisition. The transfer of ownership is expected to be completed in the coming months. The parties do not provide any information about the selling price. Ruag emphasizes that the sale follows the divestment strategy set by the Federal Council.

Ruag Australia employs over 150 people. The company specializes primarily in maintenance, repair and servicing and offers solutions for customers in the defense sector and other branches of industry. Asdam is Australia’s largest supplier to the F-35 Joint Strike Fighter program and oversees various defense and non-defense programs. (help)

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