Embraer-Augusta Westland project to build helicopters in Brazil falls through

Saturday, April 20th 2013 - 06:08 UTC

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Embraer which competes worldwide wants to provide aircraft for Brazil’s oil and defence industries

Brazilian plane maker Embraer SA said on Friday that it ended talks with AgustaWestland, a subsidiary of Italy's Finmeccanica, without reaching an agreement to form a joint venture.

Embraer and AgustaWestland said in January the two companies were considering forming the joint venture to build military and commercial helicopters in Brazil.

In a Friday regulatory filing, Embraer didn't say why the companies failed to reach an agreement.

AgustaWestland Chief Executive Bruno Spagnolini had said in January that “Brazil is an important market...and we believe that having a manufacturing presence in the country will help our business grow even more in one of the fastest-growing markets in the world.”

For Embraer, the venture would have allowed the company to provide aircraft for the oil and gas industry, as well as executive and military transport, according to the January statement.

Embraer has been seeking more military contracts in order to secure at least one-fifth of total revenue from its defence division. The company has also sought to expand into other markets, saying that in the future it may expand into building boats for Brazil's military.

Categories: Economy, Brazil.

Tags: Brazil, Embraer.

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Brazilian
OMG, let's hate Brazil because it is in South America!
Apr 20th, 2013 - 03:40 pm 0
cornishair
1 Brazilian. Why would anyone hate Brazil, some of my best friends are brazilian. Critizing a country's government is different too hating a country. I can't say i like what is happening the the Amazonian tribes, but i don't hate Brazilians for it. calling out corruption isn't bad, your country is rapidly industrializing, like the UK in the 19th century & we had pretty bad corruption back then.

+ I've resently read a book about Brazilian independence, I didn't know British sailors had such a important role :) our navy's have a long history of friendship.
Apr 20th, 2013 - 04:17 pm 0
Brazilian
It was just a little provocation, being that so many people here go on hateful rants against Brazil and other South American countries for no apparent reason. I was wondering what they would say about this. Unfortunately such a thing as imperialist hubris still exists. You're wrong about comparing Brazil to the UK in the 19th century, two completely different historical situations. But yes, Brazil has a significant industry is becoming more industrialized. Embraer is perhaps the most evident example of this, having become the world's 4th largest civil aviation manufacturer.
Apr 20th, 2013 - 05:01 pm 0

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