Boeing-Embraer strategic partnership continues to grow:
4 October 2019: Boeing and Embraer will continue to work together to establish their strategic partnership. This will help both companies to deliver greater value to airline customers and the flying public, and to accelerate growth in global aerospace markets.
After getting approval for the partnership from Embraer shareholders, the companies have started diligent planning for the creation of a joint venture made up of the commercial aircraft and services operations of Embraer. Boeing will own 80 per cent of the new company and Embraer will hold the remaining 20 per cent. The company will be named Boeing Brasil - Commercial.
The transaction remains subject to regulatory approval; the two companies are actively engaged with authorities in relevant jurisdictions and have acquired a number of regulatory approvals. After a detailed assessment by the US Federal Trade Commission, the parties' strategic partnership has obtained clearance to close in the United States. Recently, the European Commission indicated it will open a Phase II assessment in its review of the transaction, and Boeing and Embraer look forward to assisting with that review. Based on this development, however, the companies now expect the transaction to close in early 2020.
Boeing and Embraer are also going to launch a joint venture to promote and develop markets for the multi-mission medium airlift KC-390. According to the terms of the proposed partnership, Embraer will own a 51 percent stake in the joint venture and Boeing will own the remaining 49 percent. Two KC-390 milestones were recently achieved by Embraer: the first KC-390 was delivered to the Brazilian Air Force, and the first international purchase was announced by Portugal.
The comprehensive Boeing-Embraer strategic partnership will position both the companies to compete in the global marketplace, deliver greater value to customers and to boost the Brazilian aerospace industry as a whole.
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