financetom
Business
financetom
/
Business
/
Embraer plans defense office in Europe as C-390 sales pick up
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Embraer plans defense office in Europe as C-390 sales pick up
Nov 11, 2024 7:29 AM

(Reuters) - Brazilian planemaker Embraer's ( ERJ ) defense unit is planning to open an office in Europe, as sales of its C-390 Millennium military cargo aircraft gain pace in the region.

The Czech Republic, Austria, the Netherlands and Sweden have all recently moved to purchase the aircraft, joining current operators Portugal and Hungary and underscoring strong momentum for the C-390 in Europe.

"We are interested in opening an Embraer Defense & Security office in Europe, which would very likely be in Portugal," defense unit Chief Executive Bosco da Costa Junior told Reuters in an interview on Sunday.

Portugal was the first European and NATO country to place an order for the C-390, in 2019, and received its first aircraft last year. It is also expected to soon fill orders for Embraer's ( ERJ ) light attack fighter, the A-29 Super Tucano.

The Brazilian planemaker had earlier this year named the European Union as a key market for sales of the C-390, along with India, Saudi Arabia and the United States.

The latest country to select the aircraft for its fleet was Sweden, which said on Saturday it would open negotiations for the C-390 to replace its aging fleet of Lockheed Martin's ( LMT ) C-130 Hercules turboprops.

"This office's goal is to make Embraer Defense & Security a European player. We want it to have all the security clearances required by NATO," Costa said.

Expanding its presence abroad with more sales of the C-390 has been a key goal of Embraer's ( ERJ ) defense division, including getting more orders from NATO nations.

"We want to invest in Europe. We want a seat at the table. There is a lot of European content in our aircraft, and with new setups we have been increasing the European content," Costa said.

"It's a very strategic and well-considered step aimed at making Embraer Defense & Security increasingly NATO and European."

Europe represents 14% of the C-390's total addressable market, according to BTG Pactual analysts, behind only Asia-Pacific (34%) and the Middle East (32%).

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Meta's Instagram down for thousands, Downdetector shows
Meta's Instagram down for thousands, Downdetector shows
Mar 21, 2024
March 21 (Reuters) - Meta Platforms's ( META ) Instagram was down for thousands of users on Thursday, according to outage tracking website Downdetector.com. ...
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Ecopetrol's Reficar refinery awarded nearly 20% of McDermott common capital, company says
Mar 21, 2024
BOGOTA, March 21 (Reuters) - The Reficar oil refinery belonging to Colombia's Ecopetrol was awarded 19.9% of the common capital in infrastructure firm McDermott in preferential shares by a judge in Amsterdam, Ecopetrol said in a statement on Thursday. The refinery is located in the Colombian city of Cartagena. ...
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Hong Kong-listed Samsonite plans dual listing in hunt for investors
Mar 21, 2024
(Reuters) -Luggage maker Samsonite International ( SMSOF ) on Friday said it plans to pursue a dual listing in addition to its listing on the Hong Kong Stock Exchange to increase the liquidity of its shares and reach investors in more markets. Samsonite ( SMSOF ) did not provide details of the exchanges it is considering for the second listing,...
Oil eases on possible Gaza ceasefire, dollar strength
Oil eases on possible Gaza ceasefire, dollar strength
Mar 21, 2024
SINGAPORE (Reuters) -Oil prices slipped on Friday on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices. Brent crude futures fell 42 cents, or 0.5%, to $85.36 a barrel by 0203 GMT. U.S. crude futures shed 40 cents, or 0.5%,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved