RUAG announces the sale of RUAG Environment Ltd to Thommen Group AG
Bern, 30 October 2020 - RUAG MRO Holding Ltd has sold RUAG Environment Ltd to Thommen Group AG. With the sale and the resulting synergy effects, operations can be maintained for the time being. In the course of the next three years, operations will be transferred to the Thommen Group, in particular Immark AG. This will ensure a Swiss solution in the field of electronics recycling in the long term. Both parties have agreed to keep the terms of the sale confidential.
Since the Swiss technology group was split up into two independently operating companies, RUAG MRO Holding Ltd (Swiss part) has focused on its core competencies, securing equipment for the Swiss army. At the same time, RUAG Environment Ltd has not been able to make its Altdorf operation profitable despite numerous investments by RUAG as price trends in its core business units of waste management, recycling and reprocessing have deteriorated sharply in recent years. RUAG has examined all the options in depth and has come to the conclusion that the chosen step with the transfer to Thommen Group AG is the most advantageous overall.
With the sale to Thommen Group AG and the resulting synergy effects, operations can be temporarily maintained. In the course of the next three years, operations will be transferred to the Thommen Group, in particular Immark AG. This will ensure a Swiss solution in the field of electronics recycling in the long term. RUAG Environment Ltd will therefore be renamed Immark AG Schattdorf.
It is important to RUAG to find a solution that is as socially acceptable as possible. Should there be any downsizing, the RUAG social plan will apply despite the sale to Thommen Group AG.
For more information on RUAG, please contact Kirsten Hammerich, Senior Media Relations Manager, firstname.lastname@example.org / Tel. +41 58 467 05 11
For more information on the Thommen Group, please contact Patrick Härtsch, CFO, Patrick.Haertsch@thommengroup.com / Tel. +41 61 815 22 22