Aernnova Aerospace to buy Embraer’s Portuguese subsidiaries

©Embraer

Spain-based Aernnova Aerospace (Aernnova), an international reference company in the supply of aerostructures, has agreed to purchase Embraer’s Portugal-based subsidiaries Embraer Metálicas and Embraer Compósitos industrial units located on the Évora Aeronautical Industry Park for US$172 million (£125.5 million), subject to adjustments on the closing date.

The two enterprises, which extend over 37,100 and 31,800 square metres, respectively, employ over 500 staff and are responsible for the production of state-of-the-art composite and metallic airframe structures, including those for the Praetor 500 and Praetor 600 business jets, the two generations of the E-Jets family of commercial jets and the KC-390 Millennium multi-mission aircraft.

As part of the deal, Aernnova will sign a supply agreement with Embraer to secure current production packages for the Brazilian planemaker’s aircraft. The agreement will strengthen Aernnova’s position as a tier 1 supplier for single-aisle aircraft and will expand its presence in the executive and defence aerospace markets. The Évora facilities’ activity will add around US$170 million (£124 million) to Aernnova’s annual revenue. The industrial capacity at Evora plants will also allow Aernnova to further expand the activities of the two newly acquired units with new contracts from Embraer as well as aircraft manufacturers.

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.” 

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