Embraer Board ratifies its alliance agreement with Boeing

SAO PAULO (Reuters) – Brazilian aircraft manufacturer Embraer said its board of directors had ratified Friday the terms of the agreement signed in December by the company for an alliance with Boeing, based in the United States. The decision was made a day after President Jair Bolsonaro's government announced that it was giving up Embraer's veto on strategic issues.

In fact, Embraer said the council had authorized the celebration of "Master Trading Agreement", which contains the terms and conditions of the partnership in commercial aviation.This agreement provides for the establishment of a company Commonly incorporating the Embraer commercial aviation area, which will account for 20% of the activities, while the remaining 80% will come from Boeing.

The Brazilian company's board also approved the "Contribution Agreement". ", which provides for the creation of another joint venture, to manage the KC-390 cargo business, in which Embraer will own 51% of the capital, while Boeing will hold the remaining 49%.

L & # 39; agreement announced in July had approved the conditions in December by the boards of directors of both companies.

Source link