EMBRAER S.A.

EMBR3
Delayed Quote. Delayed  - 05/26 12:50:19 pm
12.83BRL +5.77%

Embraer and Aernnova Announces Strategic Partnership for Embraer Metálicas and Embraer Compósitos Industrial Units, Located in the Aeronautical Industry Park of Évora, Portugal

01/12/2022 | 07:32am
Embraer and Aernnova announced a strategic partnership for Embraer Metálicas and Embraer Compósitos industrial units, located in the Aeronautical Industry Park of Évora, Portugal. The transaction contemplates the sale of all shares of company's wholly owned subsidiaries to Aernnova for the reference price of USD 172 million, subject to adjustments on the closing date. The agreement aims to increase the production of the centers of excellence, which operation has a strategic importance for the current and future products of Embraer. With 37,100 and 31,800-square meters respectively, and employing around 500 people, these facilities combine the most advanced technologies in both metallic and composite airframe construction with a high level of digitalization and automation of plant production processes. Among other activities both factories produce parts for wings, vertical and horizontal stabilizers for programs such as the Praetor 500 and Praetor 600 business jets, the two generations of the E-Jets family of commercial jets and the multi-mission aircraft KC-390 Millennium. Évora industrial units will constitute Aernnova's production center in the world. Under the terms of the partnership, Aernnova assumes the operation of the industrial plants in Évora at the same time as it signs a supply agreement to secure current production packages for Embraer aircraft. This agreement strengthens the Aernnova's position as a tier 1 supplier for single aisle aircraft and improves its presence in the executive and defense aerospace markets. Évora facilities activity will add around USD 170 million to Aernnova's revenues figure. The industrial capacity at Evora plants will also allow Aernnova to further expand Evora current activities with new contracts either from Embraer or other aircrafts manufacturers.
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