© nickondr dreamstime.com Electronics Production | November 26, 2013
RUAG acquires French partner GAVAP
RUAG is investing in its French partner company GAVAP, a specialist in simulation and training systems. On 30 October 2013 GAVAP was incorporated into RUAG Holding France SAS.
The acquisition is part of a regulated succession plan and will secure the continued existence of the French company with 70 employees. Technology group RUAG and SME GAVAP have maintained a strategic partnership in the area of virtual and live simulations since 2003. Together the two companies have already implemented a number of successful projects in France. Urs Breitmeier, CEO of RUAG: "The acquisition of GAVAP means that our customers can obtain the full range of services from a single source in the future. It also gives us the potential for growth in the medium and long term." The acquisition was possible under the terms of a regulated succession plan for the family-owned company, which was founded in 1983. The purchase price is subject to a secrecy agreement. The 70 employees are to be taken over and will continue to work at the site.