All the 2,700 employees of Ammotech in Switzerland and ten other countries, including Germany and Sweden, the United States and Britain, would be taken over by the new Italian owner, Ruag International saidExternal link on Wednesday.
The main Swiss production site in the town of Thun would be maintained for at least five years, Ruag International added.
The sale to Beretta doesn’t come as a surprise according to experts.
In 2018, the Swiss government decided to split into two separate companies as part of a divestment strategy.
The Ruag defence entity produces for the several armies and police forces, while the international business arm is active in aerospace engineering.
Ammotech says it generates two thirds of its sales in the civil sector.
The sale has prompted an outcry of the right-wing Swiss People’s Party. It criticised the sale as inacceptable as it undermined Switzerland’s security.
Popular Stories
More
Culture
Wealth is not all: how gentrification in Zurich has led to housing shortage
Swisscom receives greenlight for acquisition of Vodafone Italia
This content was published on
The takeover of Vodafone Italia by Swisscom is nearing completion. All relevant authorities have now approved the €8 billion (CHF7.45 billion) deal.
Novo Nordisk stock market plunge drags down Swiss device maker Ypsomed
This content was published on
The Danish pharmaceutical giant, Novo Nordisk, faced setbacks on Friday that weighed on the share price of Swiss injection device manufacturer Ypsomed.
Swiss press react to EU deal with mix of euphoria and scepticism
This content was published on
Swiss media reaction to the agreement between Switzerland and the EU varies widely. Some are celebrating, while others worry about what is to come.
Swiss Solidarity donations to tackle child abuse top CHF4 million
This content was published on
Swiss Solidarity, the humanitarian arm of the Swiss Broadcasting Corporation (SBC), has raised over CHF4 million ($4.3 million) to tackle child abuse.
EU Commission president says Swiss-EU deal is ‘historic’ agreement
This content was published on
At a joint media conference with Swiss President Viola Amherd in Bern, European Commission President Ursula von der Leyen spoke of a "day of joy".
Switzerland and EU reach deal on future bilateral relations
This content was published on
Switzerland and the European Union have announced a political agreement to update their trading relationship after almost a decade of difficult talks.
Technology firm Ruag International to cut more jobs
This content was published on
The Swiss aerospace and armament company, Ruag, says it will shed up to 150 jobs by the end of next year due to the coronavirus crisis.
Swiss firm RUAG still ranks among top 100 arms sellers
This content was published on
RUAG retained its rank of 95th in 2018. In line with a government decision, the technology group is splitting next year so that units catering to the Swiss Armed Forces are distinct from those serving the international market.External link MRO Switzerland (RUAG MRO Holding AG) and RUAG International (RUAG Holding AG) will be created on January 1, 2020, under the umbrella of the new holding…
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.