► The Swiss federal Council decided the next steps for the establishment of the new RUAG

Bern, 08/28/2009 – In the spring, the Federal Council decided to split the RUAG technology group into two independent business units capable of meeting the challenges of the future (MRO Switzerland and RUAG International). In its session of 28 August 2019 it defined the next steps in this direction and assigned to the DDPS [the Federal Department of Defence, Civil Protection and Sport] the mandate to establish, by the end of October, a new holding company, under whose direction the spin-off and further development of the two new subholding will be realized.

In accordance with the decisions of the Federal Council, in January 2020 the current RUAG will become a new holding company with two subholdings. The subholding company MRO Switzerland will remain the property of the Confederation and will continue providing the key security services in favor of the DDPS. The subholding RUAG International, on the other hand, will be further developed to become an operational technology group in the aerospace sector. Called «Aerospace», it will later be privatized. The two subholding companies, independent of each other in legal and financial terms, will have separate IT systems.

New company by the autumn of 2019

Several stages will be necessary to implement the new company structure. The Federal Council has assigned to the DDPS the mandate to establish, in a first phase, the new holding company by October 2019. At a later stage, the sub-holding MRO Switzerland will be set up, in which the activities related to the national defense interests, currently part of the RUAG Holding will be transferred. The remaining parts will flow into the new subholding RUAG International.

The Federal Council will appoint the board of directors as a whole and the auditing body of the new holding company by the date of its incorporation. He will also take note of the appointment of the subholding boards of directors. The latter will be set up as part of a procedure under the direction of Ms. Monica Duca Widmer, appointed in June by the Federal Council as chairman of the board of the new holding company.

(Unofficial translation by EDR On-Line)