PARIS, June 18, 2013 /PRNewswire/ -- Embraer (NYSE: ERJ; BOVESPA: EMBR3) and Boeing (NYSE: BA) are partnering on the sales and marketing of Embraer's KC-390 – a multi-mission mobility and aerial refueling aircraft with advanced capabilities in the medium-sized airlift market.
Under the agreement, Boeing is the lead for KC-390 sales, sustainment and training opportunities in the U.S., UK and select Middle East markets. Embraer will manufacture the aircraft and collaborate on sales, sustainment and training.
"The KC-390 is an extremely capable aircraft that continues to attract interest by several nations, and Boeing's military transport expertise is ideal for teaming in the international market," said Luiz Carlos Aguiar, President and CEO of Embraer Defesa & Segurança. "This agreement strengthens the level of cooperation between both companies and the defense industries of Brazil and the United States."
The KC-390 originated as a defense project contracted by the Brazilian Air Force in 2009. The largest aircraft to be manufactured in Brazil, it features advanced capabilities in terms of performance, cargo, capacity, flexibility and life-cycle costs. Initial estimates of the potential market for KC-390 are approximately 700 aircraft, but that number is likely to increase after additional markets are analyzed . The project has completed the Critical Design Review and is on schedule.Today's announcement builds upon the broad cooperation agreement Boeing and Embraer signed in 2012. The companies are collaborating on aircraft efficiency and safety, research and technology, defense products and sustainable aviation biofuels. "Our relationship with Embraer continues to grow across Boeing and demonstrates our commitment to Brazil," Boeing Defense, Space & Security Business Development and Strategy Vice President Chris Raymond said today at the Paris Air Show. "KC-390 complements our mobility portfolio by providing a versatile, affordable aircraft." About Boeing Defense, Space & Security A unit of The Boeing Company, Boeing Defense, Space & Security is one of the world's largest defense, space and security businesses specializing in innovative and capabilities-driven customer solutions, and the world's largest and most versatile manufacturer of military aircraft. Headquartered in St. Louis, Boeing Defense, Space & Security is a $33 billion business with 59,000 employees worldwide. Follow us on Twitter: @BoeingDefense. About Embraer Defesa & Segurança With over 40 years of experience in providing Armed Forces around the world with superior platforms and systems to aid in their defense and security, Embraer Defesa & Segurança has a growing presence in the global market, and plays a strategic role in Brazil's defense system. Embraer Defesa & Segurança´s product portfolio includes military airplanes, state-of-the-art radar technologies, unmanned aerial vehicles (UAV), and advanced information and communications systems, such as Command, Control, Communications, Computer, and Intelligence, Surveillance, and Reconnaissance (C4ISR) applications. Embraer's airplanes and military solutions are in service with more than 50 armed forces in 48 countries. Follow us on Twitter: @EmbraerSA Contacts: Valtécio Alencar Embraer Defesa & Segurança +55 11 98106-7295 email@example.com John Morrocco Boeing Defense, Space & Security +1 610 715-7975 firstname.lastname@example.org SOURCE Embraer S.A.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV