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© mikael damkier dreamstime.com Electronics Production | November 04, 2016

Ruag completes sale of opto-electronics business to Thales

Ruag has closed the sale of OEI Opto AG to aerospace company Thales Alenia Space. On 2 November, the two companies signed an agreement to complete the transaction.
The deal was first announced by both companies in back in July – and now, with the completion of the transaction, Thales Alenia Space will retain all OEI Opto AG’s current employees.

Zurich-based OEI Opto AG, which is now formerly a subsidiary of Ruag Space, is specialised in the development of scientific satellite instruments and in equipment for optical communications in space. The entity employs 75 people and recorded sales of CHF 18 million (EUR 16.63 million) in 2015.

Peter Guggenbach, CEO Ruag Space, expressed satisfaction with the closure of the transaction: "Closing the sale of OEI Opto AG is another important step on the path to implementing our product strategy for launchers and satellites. I'm delighted that we have succeeded in finding a buyer for this unit that will focus on building a successful future for the business at its Zurich location while retaining the current workforce."

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