Switzerland's Ruag has sold its business aviation facilities in Geneva and Lugano to Dassault Aviation as it restructures to concentrate the business on aerostructures and space programmes.
Ruag says the sale of its Swiss business aviation operation is the "first step" of a "strategic alignment", and that the group is "working on solutions that offer successful futures" for its MRO, Ammotec and cyber security activities.
The company's sole shareholder is the Switzerland's government, which has decided to "unbundle" the group, Ruag notes.
Chief executive Urs Breitmeier states that he is "extremely satisfied" about the completed sale to Dassault Aviation.
He describes the French airframer as "an experienced partner [that] can provide a strong foundation for successfully continuing operations in Geneva and [Lugano]".
Ruag's facility in Lugano
All 87 employees at the two sites – 73 in Geneva and 14 in Lugano – will transfer to Dassault under the deal.
The two sites provide MRO activities for a range of business aircraft from manufacturers including Bombardier, Dassault, Embraer, Hawker Beechcraft, Piaggio and Pilatus, and fixed-base operations.
Dassault Aviation chief executive Eric Trappier states that the acquisition will "reinforce [the group's] footprint in Switzerland, a key place for business aviation in Europe".
No financial details were disclosed on the transaction.
Ruag's operating profit declined in 2018 by 10.8%, to Swfr106 million ($106 million), while revenue grew 2.2%, to just under Swfr2 billion compared with the previous year.