Pfäffikon SZ / Berne, July 1, 2009 - Oerlikon closed transaction of selling its former business unit Oerlikon Space yesterday to the international aerospace, defence and security technology group RUAG. All shares, certain assets and affiliates related thereto which comprise the Space business unit have been transferred as of yesterday. The purchase price was paid in cash. The German Federal Cartel Office has cleared the transaction.
OC Oerlikon and RUAG announced on June 2 that RUAG will acquire 100 percent of Oerlikon Space AG. Yesterday, both companies finalized the last transaction steps according to plan. With this transaction Oerlikon achieves a further milestone in portfolio focusing around its core competencies. At the same time RUAG broadens and expands its position in the European and US aerospace industry, following the acquisition of Saab Space and Austrian Aerospace in 2008. All 380 employees of Oerlikon Space based in Switzerland have been transferred to RUAG.
About Oerlikon Space AG
Oerlikon Space AG is Switzerland's leading space company. With more than 40 years of heritage in space, Oerlikon Space supplies the payload fairings for the European launchers Ariane 5 and Vega. The company is involved in numerous institutional and commercial space programmes around the world with its ultra-lightweight, high-stability structures, precision mechanisms, and innovative products such as laser terminals for optical communication between satellites.
Oerlikon (SIX: OERL) is one of the world's leading international high-tech industrial groups specializing in machine and plant engineering. The company is a leader in the field of industrial solutions and innovative technologies for textile manufacture, thin-film solar and thin-film coating, drive, precision and vacuum systems. With roots in Switzerland and a long tradition stretching back 100 years, Oerlikon is a global player with a workforce of almost 18 000 at 180 locations in 37 different countries. The company's sales amounted to CHF 4.8 billion in 2008 and it ranks either first or second in the respective global markets.
RUAG is an international Technology Group, active in two segments: Aerospace & Technology and Defence & Security. The Group's holding company is based in Berne (Switzerland). RUAG has production sites in Switzerland, Germany, Austria, Hungary and Sweden. RUAG Aerospace has become a major independent supplier in Europe for equipment, mechanisms and structures for satellites and launch vehicles as well as for scientific instrumentation. The business Unit Space of RUAG Aerospace has sites in Sweden, Switzerland and Austria and employs 650 employees.
For further information: www.ruag.com & www.ruag.com/en/AerospaceTechnology/Space