Airbus Defence and Space has sold Cassidian Belgium to Parter Capital Group
Airbus Defence and Space has concluded an agreement with Parter Capital Group, which is acquiring Cassidian Belgium, an electronics production facility of Airbus Defence and Space in Oostkamp, Belgium. Thereby, Airbus Defence and Space continues its strategy of strengthening its core business and divesting non-core activities. Both sides agreed not to disclose the value of the transaction.
This strategic move will enable Airbus Defence and Space to further consolidate its electronics production capabilities. Under the agreement, Cassidian Belgium will continue to supply high-quality electronics parts to Airbus Defence and Space. Among the products are major Airbus products such as primary and secondary radar components, power amplifiers and transponders. These will enable Parter Capital Group to diversify its activities by entering into defence-related business. It also enables Airbus Defence and Space to satisfy long-lasting supply commitments for highly complex defence-related products.
Cassidian Belgium, the Airbus Defence and Space plant in Belgium, currently employs a workforce of about 150 employees.
Parter Capital Group is a Swiss-based private equity firm acquiring science- and technology-driven companies for more than 15 years.
Airbus Defence and Space is a division of Airbus Group formed by combining the business activities of Cassidian, Astrium and Airbus Military. The new division is Europe’s number one defence and space enterprise, the second largest space business worldwide and among the top 10 global defence enterprises. It employs some 38,000 employees generating revenues of approximately Euro 14 billion per year.
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