[ad_1]
Washington – Boeing and Embraer announced a strategic partnership that will see the US giant take control of the civil activities of the Brazilian manufacturer, Thursday in a joint statement.
In practical terms, the two partners signed a memorandum of understanding to create a joint venture under the " Embraer activities in the fields of commercial aviation and services ", which will be controlled 80% by Boeing.
The two companies will " position themselves to offer a complete portfolio of highly complementary commercial aircraft (between 70 and more than 450 seats), they specify, adding that the " transaction evaluates all of Embraer's $ + $ 4.75 billion business + commercial + flying. "
" By forming this strategic partnership, we will have an ideal position to bring significant value to customers, employees and shareholders two companies, as well as Brazil and the United States ", said Dennis Muilenburg, CEO of Boeing, quoted in the statement.
Once finalized, this joint venture" dedicated to the commercial aviation will be headed from Brazil
The transaction, which comes after many rumors, will allow Boeing to complete its portfolio by adding aircraft with a capacity of up to 150 seats.
And it also allows the American company to replicate in the medium-haul market to its rival, Airbus, which had formed in October a strategic partnership with the Canadian Bombardier on CSeries aircraft.
The third largest manufacturer in the world, with nearly $ 6 billion in sales and 16,000 employees, Embraer, privatized in 1994, is one of Brazil's industrial jewels, with not only a range of civilian and military aircraft, but also business jets.
Source link
