Embraer sells its Portuguese facilities to Aernnova
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Embraer and Aernnova have concluded the sale of the metallurgy and composites industrial units located in the Évora Aeronautical Industrial Park, in Portugal. The operation involves the sale of the Brazilian manufacturer’s subsidiaries to Aernnova for US$ 172 million.
The facilities in question operate in buildings of 37,100 and 31,800 square meters respectively, employing around 500 people. Among others, they produce parts for the wings and vertical and horizontal stabilizers of the Praetor 500 and 600, the E-Jet E1 and E2, and the KC-390 Millennium. With this deal, Aernnova will take over the operation of the industrial plants. Embraer, on the other hand, will ensure the supply of parts through a supply agreement attached to the sale.
Francisco Gomes Neto, President, and CEO of Embraer, pointed out that «this partnership with Aeronnova will increase the capacity factor level of the Évora plants, diversify the customer base of the industrial hub and bring new business opportunities. This agreement is the first step towards our goal of making better use of our assets and improving the company’s profitability.»
Meanwhile, Ricardo Chocarro, CEO of Aernnova, said, «This transaction is another solid move in our growth strategy. We plan to further develop our operations in Évora with a view to establishing this plant as a world reference in the manufacture of structures for the aerospace industry.»
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