April 6, 2022 | International, Aerospace
January 11, 2019 | International, Aerospace
Embraer and Boeing Welcome Brazilian Government Approval of Strategic Partnership
SAO PAULO and CHICAGO, Jan. 10, 2019 /PRNewswire/ -- Embraer [B3: EMBR3, NYSE: ERJ] and Boeing [NYSE: BA] have welcomed approval by the Government of Brazil of the strategic partnership that will position both companies to accelerate growth in global aerospace markets.
The government's approval comes after the two companies last month approved terms for the joint venture that will be made up of the commercial aircraft and services operations of Embraer. Boeing will hold an 80 percent ownership stake in the new company and Embraer will hold the remaining 20 percent.
The companies have also agreed to the terms of another joint venture to promote and develop new markets for the multi-mission medium airlift KC-390. Under the terms of this proposed partnership, Embraer will own a 51 percent stake in the joint venture, with Boeing owning the remaining 49 percent.
Once Embraer's Board of Directors ratifies its prior approval, the two companies will then execute definitive transaction documents. The closing of the transaction will be subject to shareholder and regulatory approvals and customary closing conditions. Assuming the approvals are received in a timely manner, the transaction is intended to close by the end of 2019.
Forward-Looking Information Is Subject to Risk and Uncertainty
Certain statements in this release may be "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the proposed terms of the transaction, the ability of the parties to satisfy the conditions to executing or closing the transaction and the timing thereof, and the benefits and synergies of the proposed transaction, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on current assumptions about future events that may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially from these forward-looking statements. As a result, these statements speak only as of the date they are made and neither party undertakes an obligation to update or revise any forward-looking statement, except as required by law. Specific factors that could cause actual results to differ materially from these forward-looking statements include the effect of global economic conditions, the ability of the parties to reach final agreement on a transaction, consummate such a transaction and realize anticipated synergies, and other important factors disclosed previously and from time to time in the filings of The Boeing Company and/or Embraer with the Securities and Exchange Commission.
Media Contacts:
Chaz Bickers
Boeing Communications
charles.n.bickers@boeing.com
312-544-2002
Valtecio Alencar
Global Corporate Communications
Embraer
Valtecio.alencar@embraer.com.br
11-3040-6891
SOURCE Boeing
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August 15, 2022 | International, C4ISR
Torch.AI wins Pentagon 'insider threat' cybersecurity contract
The Pentagon will use the software as part of its System for Insider Threat Hindrance, or 'SITH,' in another apparent military reference to Star Wars.
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May 16, 2018 | International, Aerospace
Saab Held Today its Annual Gripen Seminar
Seminar can be viewed at: http://saab-seminar.creo.se/180516/annual_gripen_seminar_2018 Article on Skies Magazine: Saab positions Gripen E as Canada's next-generation fighter Saab Group is confident that its single-engine Gripen E remains a viable contender for Canada's next generation fighter aircraft fleet, even though there are currently no immediate plans for Royal Canadian Air Force (RCAF) pilots to actually fly the aircraft. This was according to Richard Smith, head of Gripen marketing and sales during a May 16 briefing on Gripen market opportunities worldwide. He confirmed the planned visits included “site surveys and also some more senior visits as well, but at the moment, no plans for a flight evaluation.” He offered no details on who specifically would be visiting, but welcomed a suggestion that Prime Minister Justin Trudeau could be on the list. Canada is one of a number of countries Saab is targeting as a customer for the Mach 2 delta wing/canard fighter, the first variation of which entered service with the Swedish Air Force in 1997. Development of the Gripen E, featuring a General Electric F414G engine and an upgraded electronic warfare system (EWS), began about 2014 and it was first flown in June 2017. It is now said to be on track for delivery to the Swedish and Brazilian air forces. Smith said he expected that “continued dialogue so far this year” with Canadian government representatives was setting the stage for an early draft proposal, possibly in the third quarter of 2018, followed by the government's request for proposal for 80 aircraft early next year. He said the Gripen is suitable for all RCAF operations, including the high north, the Arctic and forward operating bases, which he said are “very similar to what we have in Sweden.” He later added that Saab would “tailor” its offering to Canada, as it would to other prospective customers with different operating environments. “Value for money, the industrial packages, that's what makes the Gripen rather unique and rather attractive.” On the seminal Canadian question about the reliability of a single-engine aircraft in Arctic and maritime missions, Gripen test pilot Mikhal Olsson said it had never been an issue. “I've been flying fighter aircraft since 1996 and I've been stationed . . . up in the Arctic,” he said. “I've been flying over the Atlantic, I've been flying across the sea eastbound to India (Saab is proposing the Gripen for the India Air Force), and every time I've been in a single-engine jet. I've never, ever, been worried about the engine [due to built-in redundancies]. “We have a really reliable system.” Olsson also said that as a “smart fighter” with net-centric technologies, a new sensor suite and long-range weapons, the E model is tailored to an “much more hostile and . . . much more unpredictable” operational environment where “new conflicts arise and disappear much quicker that we've seen before.” Gripen EWS sales director Inga Bergstrom added that electronic warfare was not the aircraft's primary function. Rather, EWS was “an enabler to . . . a successful mission” and because it was upgradeable software, it could deal with evolving threats. Asked about having to compete in some markets with used aircraft, Smith said these were, at best, an interim solution. “We're going to operate it for 30 to 40 years,” he replied. “Second-hand fighters . . . need to be replaced after maybe 10 years, and the capability that we bring is somewhat different to those old fighters. . . . Even though there has been, as you say, some headwind recently, I remain very optimistic about the outlook for Gripen both short term and longer term.” Jonas Hjelm, head of Aeronautics at Saab, acknowledged that although the company can't compete with used fighters because of the price difference, he agreed that the upgradeable Gripen could be operated for potentially more than 40 years without having to go through a new acquisition process, so the total package “makes sense for very many of the countries that are now in process of actually selecting a new fighter system.” Asked how the Gripen could compete with “stealth” platforms, Hjelm declined comment on competitors' aircraft but conceded that it was a difficult challenge. Calling stealth a “fashion word,” he said that while the newest Gripen variants have “stealth features,” Saab has chosen “different paths to have a low signature.” Besides, with “every smart technique you come up with to defend yourself, there will be a pushback from the other side to detect you . . . . We continue all the time to see what we can develop . . . to become more invisible.” https://www.skiesmag.com/news/saab-positions-gripen-e-canadas-next-generation-fighter/