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The Brazilian aircraft manufacturer Embraer and Boeing based in the United States announced Thursday that they had signed a memorandum for the creation of a new company for commercial aircraft.
According to a joint statement to investors two companies, "the non-binding agreement proposes the formation of a joint venture [parceria] that encompasses the services and services of business aviation Embraer, strategically aligned with Boeing's business development, production, marketing and support activities. " Under the terms of the agreement, Boeing will hold 80% of new business and Embraer the remaining 20%.
The same document states that the transaction values 100% of Embraer's commercial aviation activities and services at $ 4.75 billion. (about 4 billion euros) and includes Boeing's payment of $ 3.8 billion ($ 3.2 billion) for 80 percent of the partnership stake. With the completion of the company, the new company will manufacture and offer a range of passenger aircraft from 70 to over 450 seats, in addition to cargo aircraft.
Once the transaction is completed, the joint venture in the region will be led by a team of executives based in Brazil, including a president and chief executive officer [presidente executivo]. Boeing will have operational and management control of the new company, which will answer directly to the chairman, Dennis Muilenburg.
The release also states that the definitive agreement for the creation of the new company should be definitively signed until the end of 2019
In addition to the company in the field of l & # 39; Commercial aviation, the two aircraft manufacturers also announced that they would create another branch of business for the promotion of defense equipment, especially the KC-390. The KC-390 as a whole, as well as a series of specific agreements in the areas of engineering, research and development and the supply chain, will enhance the benefits and Boeing and Embraer's competitiveness. "Nelson Salgado, Executive Vice President, Finance and Investor Relations, of Embraer
." will have no impact on projections Boeing and Embraer for 2018, as well as its capital deployment strategy and Boeing's commitment to return approximately 100% of free cash flow to shareholders. "
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