Federal Council wants to sell Beyond Gravity
Published: Wednesday, Nov 29th 2023, 12:30
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The Federal Council is forging ahead with the dissolution of the former armaments and space group Ruag International. The last major part of the company, the space division Beyond Gravity, is to be sold by the end of 2025. Ruag International will then be liquidated.
This was decided by the national government in its strategic objectives 2024-2027 for Ruag International on Wednesday, as announced by the Federal Finance Administration (FFA) in a press release. Ruag International may no longer make any acquisitions until the sale of Beyond Gravity has been completed.
The Federal Council also stipulated that the buyer of Beyond Gravity must come from the western world. And the sale must take into account Switzerland's location, security and space policy interests, it added. The proceeds from the sale are to be gradually distributed to the Confederation as a dividend.
The Federal Council also decided that Ruag International should continue to demonstrate a level of profitability that keeps pace with comparable companies. As Ruag International will only be a financial investment for the Confederation following the unbundling, from next year only the Federal Department of Finance (FDF) will act as the owner and no longer the Federal Department of Defense, Civil Protection and Sport (DDPS).
Ruag MRO focuses on the army
With the complete separation of Ruag International from the federally owned armaments company Ruag MRO, the Federal Council has also defined the new strategic objectives for Ruag MRO. The focus for the federally owned company in 2024-2027 will be on consolidating the Group and further expanding its business activities with the armed forces, according to the statement.
The Federal Council continues to expect Ruag MRO to act as an industrial partner of the armed forces. It should support the armed forces in the maintenance of army systems and, as a rule, assume the role of materials competence center for new security-relevant and complex systems.
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