Patria sells its Space unit to RUAG
Patria and RUAG have announced an agreement for the sale of Patria’s Space unit to become part of RUAG’s Space division. The transaction includes the business operations and assets. The 29 employees currently working at Patria’s Space unit in Tampere will be employed in the newly founded company RUAG Space Finland.
“The acquisition of Patria’s Space unit gives us the opportunity to broaden our technology base and to enhance our product portfolio in the area of Space Electronics. This will help us further improve our position particularly in the commercial Satellite market”, explains Urs Breitmeier, CEO of RUAG.”
“Both Patria Space and RUAG Space are world class suppliers of high quality and advanced space equipment and have a good strategic fit. And to offer a better growth basis for space business we see our Space unit has more possibilities to develop further as a part of RUAG Group, where space is defined as a strategic priority”, says Jukka Holkeri, Chief Strategy Officer at Patria.
Patria’s Space unit is currently part of Patria’s Systems Business Unit, and it delivers turnkey equipment for different spacecraft demands. The key product areas are spacecraft control electronics, electrical power subsystems, electronic units and related test equipment. The personnel has been very successful and active in various European Space Agency’s (ESA’s) programs, such as Sentinel-2, EarthCARE, Swarm and Gaia. Currently on-going Solar Orbiter, where Patria is responsible for the spacecraft electrical power subsystem, can be seen a long and successful continuum from Rosetta power electronics equipment deliveries over the last ten years.
Further information
Jukka Holkeri, Chief Strategy Officer, Patria, +358 40 869 2008, [email protected]
Jiri Paukert, Senior Public Relations Manager, RUAG, +41 31 376 64 92, [email protected]
Patria Group is a trusted provider of defence, security and aviation life-cycle support services and technology solutions. It employs about 3,500 people. Patria is owned by the State of Finland.
www.patria.fi
RUAG Space is Europe’s leading equipment supplier to the space industry. With 1,150 employees at seven sites in Switzerland, Sweden and Austria, the RUAG Space Division recorded total sales of 299 million Swiss Francs in 2013.
RUAG is an international technology group for the aerospace and defence markets. Its head office is in Bern, Switzerland. RUAG's production facilities are located in Switzerland, Germany, Sweden, France, Austria, Hungary, Australia and the United States. RUAG has about 8,200 employees worldwide, including 414 trainees in 23 different professions.
www.ruag.com
