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Home BUSINESSPatria sells its Space unit
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Wed, 13 May, 2015 12:03:35 AM
FTimes Report, May 13
File Photo – Lehtikuva.
Finnish defence equipment manufacturing company Patria on Tuesday announced the sale of its Space unit to become part of RUAG’s Space division.
In a release, Patria revealed the deal includes the business operations and assets.
The 29 employees currently working at Patria’s Space unit in Tampere will be employed in the newly founded company RUAG Space Finland.
“The acquisition of Patria’s Space unit gives us the opportunity to broaden our technology base and to enhance our product portfolio in the area of Space Electronics. This will help us further improve our position particularly in the commercial Satellite market," UrsBreitmeier, CEO of RUAG said in the release.
JukkaHolkeri, Chief Strategy Officer at Patria said Patria's Space unit has more possibilities to develop further as a part of RUAG Group, where space is defined as a strategic priority.
Patria’s Space unit is currently part of Patria’s Systems Business Unit, and it delivers turnkey equipment for different spacecraft demands. The key product areas are spacecraft control electronics, electrical power subsystems, electronic units and related test equipment.
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