General Atomics Europe, a German subsidiary of California's General Atomics, has agreed to buy the maintenance, repair, and overhaul (MRO) unit for business aircraft and military helicopters, as well as the production of the Do228 in Oberpfaffenhofen from RUAG International, a subsidiary of Switzerland's RUAG Aerospace (Emmen).
"We are aware of the challenges that a takeover of this magnitude means, especially in the aviation sector amid the current coronavirus crisis. However, General Atomics Europe is economically robust. Also, we have developed a future concept that creates a classic win-win situation for GA-Europe and the future new location in Oberpfaffenhofen. We are convinced of the great potential of this company and its employees and want to develop Oberpfaffenhofen into the European aviation core of the General Atomics Europe Group," said Harald Robl, General Atomics Europe's managing director.
The new investor will take over all 450 employees currently working for RUAG International at Oberpfaffenhofen. The value of the acquisition was not disclosed. The transaction is subject to regulatory approvals and is expected to close by the end of 2020.
The sale does not include RUAG Aerostructures, a subsidiary of RUAG International that is also located at Oberpfaffenhofen and employs around 800 staff.
The sale is part of RUAG's transformation process approved by the Swiss Federal Council in mid-2019. MRO International, a services and training provider also created during the transformation, is earmarked for divestment as well but is yet to be sold. In 2019, RUAG sold its business jet facilities at Geneva and Lugano airports.
