RUAG close Swiss plant

The consultation process between employee representatives and RUAG concerning the Automotive business area has been completed and the findings evaluated. Despite the intensive efforts of the negotiation partners, the closure of the unit at the end of the year is unavoidable. This will affect 27 employees. Early retirement is an option for seven of these employees. The RUAG redundancy scheme will apply. RUAG remains committed to the site and is attracting companies to its industrial park in Altdorf. The employees affected will receive assistance in finding and applying for positions through a job centre. RUAG is examining the possibility of relocating the Automotive employees within the company. The market situation in Altdorf has continued to worsen since the withdrawal from heavy sheet metal processing announced in early 2011. The economic climate and the high pressure on costs in this internationally oriented industry have further intensified. Due to the lack of economic basis, it was not possible to effect a management buy-out (MBO) or find a buyer for the Automotive unit. RUAG remains committed to the Altdorf site, with RUAG Real Estate (real estate management), RUAG Environment (recycling) and RUAG Ammotec (environmentally compatible ammunition disposal) still located here. Furthermore, RUAG is pursuing its previously successful strategy with an integrated, theme-based industrial park in Altdorf to attract new companies and jobs to the local area. For example, German company G-Elit, a machining tool specialist, and Pfisterer Ixosil, a manufacturer of cable harness systems, have successfully located their businesses in Altdorf.