Aernnova to acquire Embraer Portugal for $172m.

Aernnova, a manufacturer of commercial aircraft and aerospace equipment, agreed to acquire Embraer Portugal, an aerospace manufacturer that produces commercial, military, executive and agricultural aircraft, for $172m. “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. 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," Francisco Gomes Neto, Embraer President and CEO.