Embraer and AVIC announce joint venture


Companies announce a joint venture to build executive jets in China

Embraer has announced the
signing of an agreement of a joint venture to build Legacy 600/650 executive jets in
The signing was winessed by Chinese and Brazilian dignatories.

Embraer and AVIC will use
the infrastructure, financial resources and workforce of their joint venture
Harbin Embraer Aircraft Industry (HEAI), which started operations in 2002 to
build the new executive jets. HEAI’s first executive jet is expected to be
delivered by the end of 2013.

“Today´s announcement
marks another milestone in the history of Embraer’s long term commitment to China
and of Brazil-Sino bilateral relations. This new phase of AVIC-Embraer partnership
corroborates what has been referred to by state leaders of both countries as ‘a
model of South-South cooperation’,” said Frederico Fleury Curado, Embraer
president and Cchief executive officer.

“The achievement of
Sino-Brazil cooperation in the field of aviation is a hard-won, indispensable
of the joint efforts from state leaders and the industry players of both
countries. The cooperation on executive jets manufacturing, as the continuation
of what the two parties have attained via the joint venture, fits in the strategic
development of all parties. It is undoubtedly a win-win strategic international
cooperation. As the leader of China’s aviation industry, AVIC will seize the
opportunity to develop a platform building executive jets that will meet the
demand of the global and China markets, and ultimately assist China’s executive
aviation industry progressing into a new stage,” said Tan Ruisong, president of
Aviation Industry Corporation of China.

To date, Embraer has 154
firm orders from China
market, with 116 aircraft already delivered. Embraer accounts for around 78% of
regional aviation market and is gaining strength in its executive segment with
18 firm orders for executive jets in 2011. The cooperation with AVIC on Legacy
600/650 programme further consolidates Embraer’s presence in China’s
executive aviation market.