EMBRAER AND AERNNOVA ANNOUNCE NEW STRATEGIC PARTNERSHIP IN ÉVORA - Aernnova Web
http://www.aernnova.com/en/embraer-and-aernnova-announce-new-strategic-partnership-in-evora/
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– Under the terms of the partnership, Aernnova acquires Embraer industrial plants in Évora, Portugal, and a long term supply agreement is signed between both companies
Embraer and Aernnova, today announced a strategic partnership for Embraer Metálicas and Embraer Compósitos industrial units, located in the Aeronautical Industry Park of Évora, Portugal. The transaction contemplates the sale of all shares of company's wholly owned subsidiaries to Aernnova. Under the terms of the partnership, Aernnova assumes the operation of the industrial plants in Évora at the same time as it signs a supply agreement to secure current production packages for Embraer aircrafts. Évora facilities activity will add around US$ 170 million to Aernnova's revenues figure.
With 37,100 and 31,800-square meters respectively, and employing around 500 people, these facilities combine the most advanced technologies in both metallic and composite airframe construction with a high level of digitalization and automation of plant production processes. Among other activities both factories produce parts for wings, vertical and horizontal stabilizers for programs such as the Praetor 500 and Praetor 600 business jets, the two generations of the E-Jets family of commercial jets and the multi-mission aircraft C-390 Millennium. Évora industrial units will constitute Aernnova's largest production center in the world.
This agreement strengthens the Aernnova's position as a tier 1 supplier for single-aisle aircraft, and improves its presence in the executive and defense aerospace markets. The industrial capacity at Evora plants will also allow Aernnova to further expand Evora current activities with new contracts either from Embraer or other aircrafts manufacturers.
"We are pleased to announce this partnership with Aernnova, a world renowned supplier in the aerostructures segment, which will allow for increasing the occupation level of the factories in Évora, to diversify its client base and to bring new business opportunities," said Francisco Gomes Neto, President and CEO of Embraer.
Mr. Ricardo Chocarro, CEO of Aernnova, said: "This deal is another step forward in Aernnova's growth strategy, further underlining the company's status as a global leader in the design and manufacturing of aerostructures. We plan to further develop the operations of the facilities, and establish Évora as a global aerostructure manufacturing benchmark, with the technical and commercial support of Aernnova group, and with the continuous commitment of the company to a digital and sustainable aeronautical industry"
The closing of the transaction is subject to the completion of certain conditions which the parties expect to accomplish in the first quarter of 2022.
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