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Under the agreement, which still depends on the approval of the Brazilian government, a new commercial aviation company will be created, with 80% of Boeing and 20% of Embraer .
In a statement, the companies said the company would pay 4.2 billion US dollars (about 16.4 billion rand) for the purchase, or $ 400 million more than what had been originally announced.
- Embraer and Boeing strengthen their partnership to create two companies
- Companies should create the world's largest aeronautical group, says Embraer
Founded in 1969 with support from the Brazilian government, Embraer is the third-largest exporter of Brazil and model in innovation.
Embraer has its roots in the Aerospace Technical Center (CTA) and the Technological Institute of Aeronautics (ITA).
In 1965, a group of technicians trained by the institute, under the direction of the aeronautical engineer then major of the Brazilian Air Force Ozires Silva, began designing a twin-engine turboprop aircraft capable of carrying about 20 pbadengers.
In 1968, this aircraft, named Bandeirante, made its first flight. The following year, Embraer was created for Bandeirante series production, initially developed by CTA. Ozires Silva became the first president of the company.
Throughout the 1970s, Embraer developed other important models, such as the single-engine EMB-200 Ipanema, intended for agricultural spraying, the EMB-326 Xavante, the first jet produced in the country. , manufactured under license from the Italian company Aermacchi is used in the training of military pilots and in EMB-21 Xingu, the company's first turboprop turboprop for professional use.
In the 1980s, models such as the EMB 120 Brasilia, which can accommodate 30 pbadengers, the EMB 312 Tucano for defense and AMX, a supersonic fighter produced in partnership with Aermacchi between 1985 and 1999, gained notoriety.
Since the late 1980s Embraer was hit by the financial crisis that penalized the Brazilian economy and almost went bankrupt.
After a long process, the company was privatized in December 1994, at the end of the government of President Itamar Franco, for an amount of 154.1 million rand (at the time).
The privatization agreement granted the government a "privileged action", a privileged action giving the right of veto over strategic decisions , such as transfer of control of shares. [19659016] Embraer 's restructuring after the restructuring was spurred by projects such as the ERJ – 145 commercial jet for 50 pbadengers and other models from the same family, and the program. Commercial aircraft E-jets focused on the jet segment of 70 to 120 seats.
Embraer is currently one of the largest manufacturers of jet aircraft in the world, is the third largest exporter in Brazil and tops the list of the most innovative companies in the country.
The company is headquartered in São José dos Campos, country and overseas and joint ventures in China and Portugal.
Boeing, the world's largest aircraft manufacturer, does not have an aircraft transportation line. medium size or small, but would be at a disadvantage compared to Airbus.The partnership between Airbus and Bombardier could also pose a risk for Embraer, in an increasingly fierce market and amid advances in other countries, such as China, in L e middle business segment
"There is a very big shift in the profile of the industry," Glauco Arbix, professor at the USP and coordinator of the USP, told BBC News. Observatory of Innovation of the IEA (Institute for Advanced Studies).
Arbix believes that, from a technological point of view, Brazil is not prepared for the enormous challenges Embraer faces. "The technological challenges posed by Embraer are considerable, the aviation industry is changing very deeply and rapidly," he said.
But the professor also claims that with this agreement, Brazil is deprived of one of its key companies. "Embraer is certainly the most advanced company in Brazil," he says. "From this point of view, I think Brazil loses with this purchase."
Embraer Logo at Congonhas Airport, in the State of Rio Grande do Sul, Brazil São Paulo – Photo: Paulo Whitaker / Reuters
The United States and Brazil union creates a global aviation giant, with strong performance in the long-distance communications and regional aviation segment.
" Embraer will have decision-making authority over certain strategic issues, such as the transfer of business to Brazil, "the company said. Boeing at any time. 59034] "We are confident that this partnership will be of great benefit for Brazil and for the Brazilian aerospace industry as a whole. This alliance will strengthen both companies in the global market and fit into our long-term sustainable growth strategy, "said Embraer President and CEO Paulo Cesar de Souza and Silva. 19659022] The companies also announced an agreement on the terms of another partnership to promote and develop new markets for the KC-390 multi-jet aircraft.In this joint venture, Embraer holds 51% of the Capital and Boeing 49%.
With the sale of the Embraer division will retain its dominance over the sectors of defense, executive aviation and services, as well as strategic projects already underway.
In addition to being approved by the Brazilian government, the agreement must be ratified by Embraer's board of directors.
President-elect Jair Bolsonaro, who will take office on 1 January, has already expressed its support for this negotiation must be completed by the end of 2019.
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