RUAG Strengthens Live Simulation Activities
14 November 2005
The RUAG technology group is to become one of Europe's top providers of high-quality two-way laser systems. On 1 January 2006 RUAG will take over the activities of the laser technology specialist C.O.E.L. GmbH of Wedel, Hamburg.
C.O.E.L. was founded as a family-run business in 1990 by its managing director, Wilfried Goda. RUAG has continually and closely been working together with C.O.E.L. on a number of projects for several years now. The succession agreement has finalized and secured this successful partnership. The purchase price is subject to a non disclosure agreement.
C.O.E.L. employs about 60 people, the majority of whom are physicists and engineers. It is expected that C.O.E.L. will generate sales of around 9 million EUR this year. From an operational point of view the company will be contributing to the Simulation and Training division of the RUAG subsidiary RUAG Electronics. In continuation of his 15 years of successful management Mr. Wilfried Goda will hold the position of managing director of C.O.E.L.. RUAG Electronics employs 250 people in its Simulation and Training division and generates sales of 52 million EUR.
This acquisition will improve RUAG's position as a supplier of simulation and training equipment for security forces and make it one of the European leaders in the field.
