[ad_1]
In a $ 1 billion deal, the US group will take over the majority of Embraers' airliner division, as both companies announced Thursday in Chicago and Sao Paulo. Paulo. Previously, Airbus had already teamed up with Embraer's Canadian competitor, Bombardier
The agreement should see the Airliner and Embraer services enter into a joint venture with Boeing holding 80% and Embraer a 20% stake. Overall, the joint venture is worth US $ 4.75 billion.
Embraer with its E and E2 jet aircraft is the next major supplier of regional aircraft of about 100 seats. Until now, Boeing is not represented in this segment. The smaller Boeing 737-MAX-7 medium-haul aircraft currently offers space for 138 to 153 passengers. At the top end is the Boeing 747-8 with over 400 seats.
In the biggest commercial plane, the Americans compete with the European rival Airbus. It just came with Bombardier and only a few days ago, the majority of its largest aircraft, the C series, was taken over. Swiss was the first airline to buy Series C.
Boeing and Embraer had already negotiated a merger for a while. It should be completed by the end of next year at the latest. However, antitrust authorities and shareholders still have to approve the deal.
Both companies view their planned partnership as an evolution of their more than 20-year collaboration. With this alliance, both are well positioned to generate value for their customers, employees and shareholders, "said Boeing CEO Dennis Muilenburg. The agreement strengthens both companies in the global market, added Paulo Cesar de Souza e Silva, boss of Embraer.
The Alliance was made more difficult by Brazil's political resistance, as Embraer also develops and builds military aircraft and security technologies. The state holds a so-called golden part in Embraer and can block large-scale decisions. Existing military activities will remain entirely entrusted to Embraer – as well as to the division of business jet airplanes.
The collaborations want the two companies to be as before in marketing the Embraer KC-390 military carrier. In addition, they want to jointly develop products for the arms industry. A second joint venture must be created for this purpose. (SDA)
Posted on 05.07.2018 | Updated at 18:45
[ad_2]
Source link
