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Maker of the Sniper’s Choice, makes the news – but what is the Swiss company RUAG?

The Swiss company RUAG made the news last week when investigators were called in to look at information relating to the sale of ammunition. But what is this company?

RUAG

RUAG Ammotec stand at Berlin Airshow 2016 © Sergey Kohl _ Dreamstime.com - Click to enlarge

According to RTS, the investigation revealed contracts for the sale of ammunition to Russia that had not been properly declared, RUAG triggered the investigation itself when a whistle blower reported irregularities and has filed a criminal complaint. The affair involves allegations of fraud and bribery, according to RTS.

What is RUAG?

Wholly owned by the Swiss government, Rüstungs Unternehmen AG’s (RUAG) primary focus is to equip and maintain the technical systems of the Swiss Armed Forces.

RUAG SWISS PTM, one of the company’s products, is described as the sniper’s choice. A product characterized by outstanding precision.

In addition to selling ammunition the company sells civil and military equipment and supplies around the world.

In 2017, it generated sales of CHF 1.96 billion, made a profit of CHF 119 million and employed 9,189 staff across 16 countries. According to its annual report, Ammotec, its ammunition division, is the European market leader in small-calibre ammunition, pyrotechnic elements and components. This division clocked up sales of CHF 397 million in 2017, 20% of the total.

The report also claims that RUAG is the leading supplier of products for the space industry in Europe, which brought in CHF 365 million in 2017, 19% of total sales.

A divisional breakdown of the company’s 2017 sales is shown below in CHF millions.

In 2017, 44% of sales were military and 56% civil. 38% of total sales were local and 62% international.

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About Investec
Investec
Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia, as well as certain other geographies. Investec’s strategic goals are motivated by the desire to develop an efficient and integrated business on an international scale through the active pursuit of clearly established core competencies in the group’s principal business areas.
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