Ruag Space reports 18% revenue drop in 2020; restructuring, headcount reduction intended to restore profitability

by Peter B. de Selding

PARIS — Switzerland-based Ruag Space swung to a loss in 2020 following a 18% decline in sales that forced a restructuring that the company hopes will restore profitability.

The company said development of its Decatur, Alabama, facility, where it hopes to expand business with the U.S. Department of Defense, was slowed because of Covid travel restrictions and related supply-chain disruptions.

In its 2020 annual report, Ruag International makes no mention of the problems associated with its new rocket fairing production method . . .

To view the entire article, become a subscriber!

You may also like