Aernnova Acquires Embraer Industrial Plants In Évora, Portugal - Quick Facts

(RTTNews) - Embraer (ERJ) and Aernnova announced a strategic partnership for Embraer Metálicas and Embraer Compósitos industrial units. The deal contemplates the sale of all shares of company's wholly owned subsidiaries to Aernnova for the reference price of $172 million. Aernnova assumes the operation of the industrial plants in Évora. It also signed a supply agreement to secure current production packages for Embraer aircraft.

Francisco Gomes Neto, President and CEO of Embraer, said: "This agreement is an important step towards the footprint optimization strategic initiative, which aims to better use of our assets and improve the company's profitability."