Brazil’s Embraer plans to invest US$2.67 billion over next five years

15 December 2006

Sao Paulo, Brazil, 15 Dec – The chairman of Brazil’s Embraer, the fourth largest aircraft manufacturer in the world, said Thursday the company planned to invest 5.7 billion reals (US$2.67 billion) over the next five years.

According to Mauricio Botelho, the investments will be used to launch products, certify current aircraft, developing technology, increasing industrial capacity and opening four service centers abroad.

Botelho noted that, since the company’s privatization, which took place in 1995, Embraer, had invested a similar amount to that indicated for investment over the next five years.

“We are now going to apply the same amount of money in half the time,” said Botelho at a press conference in Sao Paulo, stating that the company would hire 4,000 staff in 2007 in order to deliver orders within contracted deadlines.

The chairman added that the company also had plans to build another factory overseas and that it had already had interest from Mexico and the European Union.

Embraer, which currently employs around 17,500 workers at its units in Brazil, China, Europe and the United States, has an order book worth 8 billion euros.

Set up 37 years ago, Embraer has already manufactured 3,900 aircraft, at the service of 70 airlines in 43 countries. (macauhub)