Aernnova acquires Embraer industrial plants in Evora, Portugal, and a long-term supply agreement is signed between both companies to increase production and diversify client base. (Photo: Embraer)
Embraer and Aernnova, an international reference company in the supply of aerostructures, announced a strategic partnership for Embraer Metalicas and Embraer Compositos industrial units, located in the Aeronautical Industry Park of Evora, 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 centres of excellence, which operation has strategic importance for the current and future products of Embraer.
With 37,100 and 31,800-square metres 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 digitalisation 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. Evora industrial units will constitute Aernnova's largest production centre in the world.
Under the terms of the partnership, Aernnova assumes the operation of the industrial plants in Evora 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. Evora 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 Evora, 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 optimisation 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 Evora 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.
|Contact details from our directory:|
|Embraer Portugal S.A.||Composite Manufacturing Services, Composite Structures, Metal Structures|
|Embraer-Empresa Brasileira de Aeronautica S.A.||Airframer|
|AERnnova||Aircraft Structural Components, Metal Structures, Ceramic Composite Structures, Aircraft Control Surfaces, Wings, Fuselage Sections, Empennages, Nacelles, Fairings, Engine Housings, Aircraft Interiors, Helicopter Assemblies, Technical Manuals|
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