Embraer informs that it has concluded the strategic partnership agreement with Aernnova announced in early 2022, which provides for the sale of units in Portugal.
In this way, Aernnova now holds all the shares of Embraer Metálicas and Embraer Compósitos, in an investment totaling approximately US$ 174 million.
In a statement, the Brazilian manufacturer states that the partnership is yet another opportunity to increase the production capacity of these two units, since, in addition to supplying components for the company’s commercial, executive and defense aviation, there is an expectation of increasing production of components for other global aeronautical manufacturers.
That means more jobs in this inland region of Portugal.
“The agreement is also in line with Aernnova’s growth strategy, which further reinforces the company’s status as a global leader in aerostructure design and production, and aims to increase the production capacity of the centers of excellence in Évora, whose operation is of strategic importance for Embraer’s current and future products,” says the company.
With 500 employees, the Évora units produce, among others, components for wings and vertical and horizontal stabilizers for Embraer’s aeronautical programs such as the Praetor 500 and Praetor 600 executive planes, the two generations of commercial planes from the E-Jets family and the KC-390 Millennium multi-mission aircraft.
The industrial units in Portugal will be Aernnova’s largest production centers in the world.
Embraer emphasizes that the agreement reinforces Aernnova’s position as a premier supplier for single-aisle aircraft, advancing the company’s position in the defense and business aircraft markets.
“Activities at the Évora industrial facilities will add around US$170 million (157 million euros) in revenue for Aernnova. The capacity of these industrial units will also allow the signing of new contracts, either with Embraer or with other manufacturers”, he says.
Embraer highlights that it maintains its strategic commitment to Portugal, the country where it invests the most in industrial capacity outside Brazil.
The company cites the recently announced investment of 74 million euros in OGMA to bring to Portugal the maintenance of Pratt & Whitney’s GTF engines, used by the new generation of commercial aircraft.
This agreement will create 300 jobs and could triple the annual turnover to 600 million euros.
The company also recalls that in March a technological development cooperation project was launched with the signing of a Memorandum of Understanding with idD Portugal Defense and ETI.
The new partnership aims to develop Defense and dual-use products in areas related to training and simulation technologies, more specifically with Virtual Reality, Augmented Reality, Mixed Reality and Data Analysis.
Source: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.