- Under the terms of the partnership, Aernnova acquires
Embraer industrial plants in Évora, Portugal, and a long-term supply agreement is
signed between both companies
- Agreement aims to increase production and diversify client
base
- Embraer reinforces and consolidates its commitment to
Portugal and to the
Portuguese aeronautical cluster
ÉVORA, Portugal, Jan. 12, 2022 /PRNewswire/ -- Embraer (B3:
EMBR3, NYSE: ERJ) and Aernnova, an international reference company
in the supply of aerostructures, today 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 US$ 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 largest 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 US$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.
"We are pleased to announce this partnership with Aernnova, a
world renowned supplier in the aerostructures segment, which will
allow for increasing the occupation level of the factories in
Évora, to diversify its client base and to bring new business
opportunities," said Francisco Gomes
Neto, President and CEO of Embraer. "This agreement is an
important step towards the footprint optimization strategic
initiative, which aims to better use of our assets and improve the
company's profitability."
Mr. Ricardo Chocarro, CEO of Aernnova, said: "This deal is
another step forward in Aernnova's growth strategy, further
underlining the company's status as a global leader in the design
and manufacturing of aerostructures. We plan to further develop the
operations of the facilities, and establish Évora as a global
aerostructure manufacturing benchmark, with the technical and
commercial support of Aernnova group, and with the continuous
commitment of the company to a digital and sustainable aeronautical
industry"
With this strategic movement, Embraer reinforces and
consolidates its commitment with Portugal, the country where the company
invests the most in its industrial capacity outside of Brazil and which is a strategic location for
Embraer's presence in Europe.
The closing of the transaction is subject to the completion of
certain conditions which the parties expect to accomplish in the
first quarter of 2022.
Follow us on Twitter: @Embraer
About Embraer
A global aerospace company headquartered in Brazil, Embraer has businesses in Commercial
and Executive aviation, Defense & Security and Agricultural
Aviation. The company designs, develops, manufactures and markets
aircraft and systems, providing Services & Support to customers
after-sales.
Since it was founded in 1969, Embraer has delivered more than
8,000 aircraft. On average, about every 10 seconds an aircraft
manufactured by Embraer takes off somewhere in the world,
transporting over 145 million passengers a year.
Embraer is the leading manufacturer of commercial jets up to 150
seats and the main exporter of high value-added goods in
Brazil. The company maintains
industrial units, offices, service and parts distribution centers,
among other activities, across the Americas, Africa, Asia
and Europe.
About Aernnova
Aernnova is a leading aerostructure company specialized in the
design and manufacturing of composite and metallic structures for
very demanding programmes.
Headquartered in Spain, with
over 4,500 employees and a global footprint including operations in
Brazil, México, U.K. and
USA, Aernnova works with
world-class aerospace customers such as: Embraer, Airbus, Bell
Helicopters, Boeing, Northrop Grumman, Sikorsky, and Space X, among
others.
Aernnova is recognized by its customers for its performance and
competitiveness as well as for its know-how, capacities and
capabilities in engineering and manufacturing.
The company is fully committed to play a leading role towards a
net zero aviation industry. Technological Development and
Innovation is one of Aernnova's strategic growth vectors to meet
this ambitious goal.
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SOURCE Embraer S.A.