Ruag completes sale of Aerostructures units to Mubea
Published: Wednesday, Jan 3rd 2024, 17:21
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The aerospace company Ruag International has sold its Aerostructures unit in Germany and Hungary to the German family-owned company Mubea. The transaction, which was announced in July 2023, was completed at the end of December, the company announced on Wednesday. The purchase price was not disclosed.
The sale is a "major milestone" on the way to the complete privatization of Ruag International, according to the press release. The company, which is currently owned by the Swiss Confederation, is to be fully privatized by the end of 2025 at the latest.
The Aerostructures units of Ruag International with 1000 employees were integrated into the Aviation division of the Mubea Group at the beginning of the year, it is reported. The lightweight construction specialist employs over 14,000 people at 50 production sites worldwide.
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