Embraer announced the sale of two of its subsidiaries in Portugal that produce aerostructures. Aernnova, a partner of the Brazilian company in several projects, acquired Embraer Metálicas and Embraer Compósitos for $172 million.
According to the Brazilian manufacturer, the agreement aims to increase the production capacity of the two facilities, located in Évora, but which will also be used by Aernnova to supply components to other companies.
The company assured that the new terms of the partnership “secure the supply for current production of Embraer aircraft, increasing Aernnova’s long-term revenue forecast”.
Various structures are produced in Évora, such as the wings and vertical and horizontal stabilizers of the Praetor 500 and Praetor 600 business jets, the E1 and E2 commercial jets and also the KC-390 Millennium military freighter.
“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”, stated Francisco Gomes Neto, President and CEO of Embraer.
“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 the Aernnova group, and with the continuous commitment of the company to a digital and sustainable aeronautical industry,” said Ricardo Chocarro, CEO of Aernnova.
Aernnova was created in 1986 in Spain as Fibertecnic, in order to supply composites for CASA’s CN 235 turboprop, now part of Airbus.
Soon after, the company started producing parts for the MD-11, A310 and A320 commercial jets in the following years.
Gamesa Aeronautica was created in 1993 to take on a risky partnership with Embraer to manufacture the wings of the ERJ 145 regional jet, an agreement that was reissued in 1999 with the E-Jet family.
In the following years, the company expanded its operations to several parts of the world such as the USA, China, Mexico and Brazil. It currently has 14 units in six countries with more than 4,500 employees working in 30 different programs, including Boeing aircraft.