Newsletter Subscription

Sunday, May 29, 2016

Embraer Defense and Security Increases its Stake in Portugal's OGMA

  • Agreement strengthens partnership between Brazil and the European Union

Embraer Defense and Security signed last January 27 an agreement to acquire 30% of the shares representing the capital of AIRHOLDING, SGPS, S.A., from the European Aeronautic Defense and Space Company (EADS).

The AIRHOLDING, SGPS, S.A. is a consortium formed in 2005 by Embraer and EADS, incorporated in Portugal with the specific purpose of holding a 65% stake in OGMA. With this new agreement, Embraer takes full control over AIRHOLDING stake, while the Portuguese government holds the remaining 35% share through EMPORDEF – Portuguese Defense Company.

“This is an additional investment in Portugal, in order to strengthen the strategic partnership between Brazil and the European Union”, said Luiz Carlos Aguiar, President of Embraer Defense and Security. The final transfer should occur after the approval of the Portuguese competition regulators within the next 30 to 90 business days.

OGMA provides maintenance and repair for military and civilian aircraft, engines and components, as well as manufacturing and assembly of aircraft structures.

Your company’s press release on ASDNews and to thousands of other journalists and editors? Use our ASDWire press release distribution service.

Source : Embraer - Empresa Brasileira de Aeronautica S.A. (NYSE: ERJ)

Published on ASDNews: Jan 31, 2012


International Port Security Conference

Jun 1 - 2, 2016 - London, United Kingdom

Register More info

Maintenance Reserves Training 2016 Seminar

Jun 7, 2016 - Amsterdam, Netherlands

Register More info

Arctic Patrol & Reconnaissance 2016 Conference

Jun 7 - 9, 2016 - Copenhagen, Denmark

Register More info

© 2004-2016 • ASDNews • be the first to know • contact usterms & conditionsprivacy policyadvertisingfaqs