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Embraer

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Embraer S.A.
170px
Type Public (BM&F Bovespa: EMBR3
Template:Nyse)
Founded (1969)
Headquarters São José dos Campos, Brazil
Key peopleMaurício Novis Botelho, (Chairman)
Frederico Fleury Curado, (CEO)
IndustryAerospace / Defense
ProductsAircraft, aircraft components, mission systems for air and ground operation
RevenueTemplate:Profit US$ 17.7 Billion (2010)
Net incomeTemplate:Profit US$ 704.6 Million (2010)
Employees17,149[1]
Websitewww.embraer.com

Embraer S.A. (BM&F Bovespa: EMBR3 / Template:Nyse) (Template:IPA-pt) is a Brazilian aerospace conglomerate that produces commercial, military, and executive aircraft[2] and provides aeronautical services.[3][4]

Headquartered in São José dos Campos,[5] Embraer is, alongside Canadian rival Bombardier, the third-largest commercial aircraft company in the world[6] (behind Boeing and Airbus)Template:Citation needed and was for much of the 2000s one of Brazil's top exporters.[5]

History

File:Embraer 190.jpg
Embraer 190

Seeking a domestic aircraft manufacturer,Template:Citation needed the Brazilian government made several investments in this area during the 1940s[7][8] and '50s,[7] but it was not until 1969 that Empresa Brasileira de Aeronáutica (Embraer) was created as a government-owned corporation.[4]

The company's first product was a turboprop transport, the Embraer EMB 110 Bandeirante.

Early growth

The Brazilian Government contributed to the early growth of EmbraerTemplate:Citation needed giving it contracts[4] and helping to increase its product line, and the company sold solely to the domestic market until 1975.

While military aircraft made up the majority of Embraer's products during the 1970s,Template:Citation needed by 1985 a regional airliner had debuted, the Brasilia.[9] Aimed at the export market,Template:Citation needed this plane marked the firstTemplate:Citation needed of Embraer's highly successful small airliners.[3]

Privatization

Born from a Brazilian government plan and having been state-run from the beginning,[7] Embraer began a privatization processTemplate:Citation needed alongside many other state-controlled companies during the government of Fernando Collor de Mello.[10]

This privatization effort saw Embraer sold on December 7, 1994,[4][11] and helped it avoid a looming bankruptcy.[7] The company continued to win government contracts.Template:Citation needed

The Brazilian government retains interest through possession of golden shares, which allow it veto power.[12]

Initial public offerings

In 2000 Embraer made simultaneous initial public offerings on the NYSE and BM&F Bovespa stock exchanges.[3] As of 2008 its NYSE-traded shares were American Depositary Receipts representing 4 BM&F Bovespa shares.[13]

Current ownership

Template:As of ownership was: Bozano Group 11.10%, Previ 16.40%, Sistel 7.40%, Dassault Aviation 2.1%, EADS 2.1%, Thales 2.1%, Safran (formerlly Snecma) 1.1%, Government of Brazil 0.3%, and the remainder being publicly traded.[14]

Product line expansion: military, regional & executive

File:Flybe E-195.JPG
The interior of a Flybe Embraer 195.

In the mid-1990s the company pursued a product line more focused on small commercial planes than the military aircraft that had prior made up the majority of its manufacturing.[7] Larger regional airliners with 70-110 seats and smaller business jets soon followed.[3] Today the company makes for both defense and commerce.[3][4]

Military transport

Work on a new military transport, the Embraer KC-390, began in the May of 2009 with monies from the Brazilian Air Force.[15] Using many of the technologies developed for the Embraer 190, this aircraft will carry up to 19 tons (41,888 pounds) of cargo and is aimed at replacing older military cargo aircraft.[16]

While firm orders for this yet-to-be-produced hauler do not exist,[15] Argentina has asked for six[17] and several South American nations have also expressed interest.[17][18]

Government subsidy controversy

Main article: Bombardier Aerospace and Embraer S.A. government subsidy controversy

Brazil and Canada engaged in an an international, adjudicated trade dispute over government subsidies to domestic plane-makers in the late 1990s and early 2000s. The World Trade Organization decided Brazil ran an illegal subsidy program, Proex, benefiting its national aviation industry from at least 1999-2000, and that on at least two occasions Canada illegally subsidized its indigenous regional airliner industry, comprising Bombardier Aerospace.

Production bases and facilities

The company's headquarters, main production facilities, and engineering offices are in São José dos Campos, São Paulo, Brazil. Also having a production plant and flight testing facility in Gavião Peixoto, São Paulo, this facility includes a Template:Convert runway, the fourth-longest in the world.[19]

Embraer has maintenance and commercial sites, and commercial offices in Beijing, Fort Lauderdale, Paris, Singapore and Melbourne, Florida.

Main facilities

Regional sales and product support offices

Subsidiaries

  • EAMS - Embraer Aircraft Maintenance Services Inc. (Nashville, Tennessee USA) - maintenance services site.
  • OGMA - Indústria Aeronáutica de Portugal (Alverca do Ribatejo, Portugal) - aircraft component maintenance, repair and manufacturing, plus aircraft maintenance services.

Joint ventures

Aircraft types

Commercial

File:LufthansaCityline E195LR D-AEBE MUC.jpg
Lufthansa Regional (Cityline) Embraer 195LR

Military

File:HAF Embraer EMB-145H AEW&C 2.jpg
EMB-145 AEW&C of Hellenic Air Force

Corporate

File:Embraer legacy 600 g-irsh arp.jpg
Legacy 600

Agriculture

Experimental

Future

In October 2010, Embraer suggested plans to develop very-long-range business jets, entering a sector currently dominated by Gulfstream, Bombardier, and Dassault.[20]

Licensed-version aircraft

Military

General aviation

Commercial aircraft deliveries

Year 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Number Of Deliveries 4 32 60 96 160 161 131 101 148 141 130 169 204 244 246 [21]

The numbers include military versions of commercial aircraft.

Total delivered-backlog-options as of June 30, 2007: 862-53-131 145 Family, 256-399-719 170/190 Family

References

  1. ↑ Press Room: Embraer in Numbers embraer.com (Official Site)
  2. ↑ The Company: Business embraer.com (Official Site)
  3. ↑ 3.0 3.1 3.2 3.3 3.4 Corporate governance, pg. 357/651 Robert A. G. Monks, Nell Minow. John Wiley and Sons. 2008.
  4. ↑ 4.0 4.1 4.2 4.3 4.4 Timeline Embraer Historical Center (Official Site)
  5. ↑ 5.0 5.1 The Company: Profile embraer.com (Official Site)
  6. ↑ Embraer sees shrinking margins in 2010 second half reuters.com, Tue Aug 3, 2010 12:55pm EDT
  7. ↑ 7.0 7.1 7.2 7.3 7.4 OECD Territorial Reviews Madrid, Spain. Page 157/264 OECD Publishing. 2007.
  8. ↑ Where core competence soars Rishikesha T. Krishnan. Businessline. Chennai: Oct 1, 2003. pg. 1
  9. ↑ The Embraer EMB120 Brasilia airliners.net
  10. ↑ Brazil on Road Peddling State-Owned Enterprises; [FINAL Edition] John Eckhouse, Chronicle Staff Writer. San Francisco Chronicle (pre-1997 Fulltext). San Francisco, Calif.: Jan 12, 1991. pg. B.1
  11. ↑ Scielo: Os efeitos da privatização sobre o desempenho econômico e financeiro das empresas privatizadas (Portuguese)
  12. ↑ Corporate governance, pg. 356/651 Robert A. G. Monks, Nell Minow. John Wiley and Sons. 2008.
  13. ↑ Corporate governance, pg. 358/651 Robert A. G. Monks, Nell Minow. John Wiley and Sons. 2008.
  14. ↑ Corporate governance, pg. 359/651 Robert A. G. Monks, Nell Minow. John Wiley and Sons. 2008.
  15. ↑ 15.0 15.1 Portugal interested in Brazilian military cargo plane Anonymous. BBC Monitoring European. London: Feb 1, 2010.
  16. ↑ EMBRAER HAS MILITARY TRANSPORT AIRCRAFT UNDER STUDY
  17. ↑ 17.0 17.1 Argentina to buy 6 military transport jets from Brazil's Embraer; BRAZIL-ARGENTINA/AIRCRAFT EFE News Service. Madrid: Oct 30, 2010.
  18. ↑ Defense Watch Anonymous. Defense Daily. Potomac: Sep 7, 2010. Vol. 247, Iss. 47
  19. ↑ Embraer official web site, press release
  20. ↑ Embraer mulls over new types. Retrieved on 2010-10-31.
  21. ↑ http://www.tradershuddle.com/20110118148417/PRNewswire/Embraer-Closes-Out-2010-With-246-Jets-Delivered.html

External links

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Template:Ibovespa companies Template:S&P Latin America 40

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It uses material from the Wikipedia article "Embraer".


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