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
Multinational companies
Azeri fossil-fuel cash cow brings controversy to Switzerland
Swiss price watchdog slams excessive prices for generic medicines
This content was published on
The cheapest generic medicines available in Switzerland are more than twice as expensive as in other countries, according to a study by the Swiss price watchdog.
Nature should not figure in net zero calculations: academic study
This content was published on
The natural removal of CO2 from the atmosphere by forests or oceans should not be included in the net-zero balance of climate protection measures, argue researchers.
This content was published on
None of the 15 major Swiss retail banks is meeting international climate and biodiversity targets, according to a ranking by WWF Switzerland.
This content was published on
Nestlé's new CEO Laurent Freixe, has presented plans for the future of the world's largest food company, after his first few weeks in office.
Swiss foreign minister calls on Moscow to end Ukraine war
This content was published on
It's high time Moscow ended its war against Ukraine, Swiss foreign minister Ignazio Cassis tells the UN Security Council.
This content was published on
The only alternative to the UN Palestinian agency’s work in Gaza is to allow Israel to run services there, Philippe Lazzarini, UNRWA Commissioner-General, told reporters in Geneva on Monday.
Study reveals food culture differences between Switzerland and neighbours
This content was published on
Three-quarters of Swiss people consider eating to be a pleasurable, social activity, a new survey reveals. Healthy eating, however, plays a much less important role, it found.
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.