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Sao Paulo . CEO of Embraer SA, Paulo Souza e Silva, said the company was in the final stages of negotiations to combine its operations with Boeing Co, Valor Econome reported Wednesday on its website.
] At an event organized by the newspaper, Souza e Silva refused to provide details on the agreement and qualified the negotiation as "complex". Any agreement will require the approval of the Brazilian government and regulators.
The two companies are discussing for several months a transaction in which a new business controlled by Boeing and focused on commercial aviation would emerge. Embraer would maintain his defense division and, perhaps, his jet unit.
A Brazilian Air Force officer defended the agreement between the two aircraft manufacturers against critics of the legislators at a congressional hearing, suggesting that the lieutenant-general Colonel Nivaldo Luiz Rossato, commander-in-chief of the Air Force, said the agreement "will preserve national sovereignty" as it will prevent defense programs from coming to fruition. the American company
The commander-in-chief of the Air Force, Lieutenant Brigadier Nivaldo Luiz Rossato, said the proposed agreement "will preserve national sovereignty" because it will maintain the Brazilian defense programs out of reach of the American company, According to the press service of Congress
the Workers' Party deputy, Carlos Zarattini, described the agreement as a "crime against the homeland", wondering how the government – who could veto it – can let Boeing take control of the jewel in the crown of the Brazilian aerospace industry.
Rossato argued that the Brazilian-American company could to preserve jobs at Embraer, which finalizes the development of two large families of new aircraft and has not announced any larger investments.
The Embraer action rose nearly 4% Wednesday in Sao Paulo, a possible announcement of an agreement soon. In the year, they climbed 35%.
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