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EUROPEAN COMMERCE AUTHORITIES APPROVE EMBRAER'S ACQUISITION OF OGMA
Embraer-led consortium to own 65 percent of Portuguese aircraft maintenance
company
Sao Jose dos Campos, March 9, 2005 - Government commerce authorities from
Portugal, Germany and Italy have approved the acquisition of OGMA - Industria
Aeronautica de Portugal S.A. by a consortium formed by Embraer and the European
Aeronautic Defense and Space Company (EADS).
To acquire OGMA, Embraer and EADS created the AIRHOLDING, SGPS, S.A., with
Embraer holding a 99 percent stake and EADS holding a 1 percent stake. In the
future, the participation of EADS in this company can reach a maximum of 30
percent.
"We are very pleased that commerce authorities approved the deal. The
acquisition of OGMA will allow Embraer to expand its presence in Europe through
a brand recognized in the aerospace market for the excellence of its products
and services," said Antonio Pires Monteiro, the new OGMA Chief Executive
Officer. Monteiro has been an engineer with Embraer for over 30 years and has
occupied many key positions in management. With the deal allowed to proceed,
Embraer also appointed Ladislau Cid to be OGMA's new Chief Financial Officer.
The Embraer-led consortium was chosen to lead the privatization of OGMA in late
December 2004, with AIRHOLDING, SGPS, S.A. buying a 65 percent stake in the
company from Empresa Portuguesa de Defesa (EMPORDEF). EMPORDEF, controlled by
the Portuguese government, will retain 35 percent of OGMA's shares.
About OGMA
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OGMA, founded in 1918, has been dedicated to aircraft maintenance, being a major
representative of the aviation industry in Europe, offering services that cover
the maintenance and repair of civil and military aircraft and engines and parts,
assembly of structural components and engineering support.
Its key military customers include the Portuguese air force, the French air
force, the U.S. Air Force and Navy, the NATO Maintenance and Supply Agency, the
Norwegian and Dutch navies, among others. On the commercial side, OGMA has
provided services to airlines like TAP, Portugalia, British Midland, and Luxair,
and companies such as Embraer and Rolls-Royce.
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Press Headquarters North America Europe, Middle East
offices Rosana Dias: Doug Oliver: and Africa
rosana.dias@embraer.com.br doliver@embraer.com Stephane Guilbaud:
Cell: +55 12 9724-4929 Phone: +1 954 359 3414 sguilbaud@embraer.fr
Phone: +55 12 3927 1311 Cell: +1 954 232 9560 Phone: + 33 (0) 1 49 38 44 55
Fax: + 55 12 3927 2411 Fax: +1 954 359 4755 Cell. +33 (0) 6 75 22 85 19
Fax: + 33 (0) 1 49 38 44 56
Catherine Fracchia
cfracchia@embraer.fr
Phone: +33 (0) 1 49 38 45 30
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Beyond maintenance work, OGMA manufactures structural components and composite
materials for Boeing, Airbus, Lockheed Martin, Dassault and Pilatus.
Currently, OGMA employs around 1,600 people and its 2004 net sales totaled about
(euro)140 million.
Embraer Image Gallery
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Note to Editors
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Embraer (Empresa Brasileira de Aeronautica S.A. - NYSE: ERJ; Bovespa: EMBR3 and
EMBR4) is the world's leading manufacturer of Commercial jets up to 110 seats
with 35 years of experience in designing, developing, manufacturing, selling and
providing after sales support to aircraft for the global Airline, Defense and
Corporate markets. With headquarters in Sao Jose dos Campos, state of Sao Paulo,
the Company has offices and customer service bases in Australia, China, France,
Singapore and the United States. Embraer is among Brazil's leading exporting
companies. As of December 31, 2004 Embraer had a total workforce of 14,648
people, and its firm order backlog totaled US$ 10.1 billion.
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This document may contain projections, statements and estimates regarding
circumstances or events yet to take place. Those projections and estimates are
based largely on current expectations, forecasts on future events and financial
tendencies that affect the Company's businesses. Those estimates are subject to
risks, uncertainties and suppositions that include, among other: general
economic, politic and trade conditions in Brazil and in those markets where the
Company does business; expectations on industry trends; the Company's investment
plans; its capacity to develop and deliver products on the dates previously
agreed upon, and existing and future governmental regulations.
The words "believe", "may", "is able", "will be able", "intend", "continue",
"anticipate", "expect" and other similar terms are supposed to identify
potentialities. The Company does not feel compelled to publish updates nor to
revise any estimates due to new information, future events or any other facts.
In view of the inherent risks and uncertainties, such estimates, events and
circumstances may not take place. The actual results can therefore differ
substantially from those previously published as Company expectations.
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Press Headquarters North America Europe, Middle East
offices Rosana Dias: Doug Oliver: and Africa
rosana.dias@embraer.com.br doliver@embraer.com Stephane Guilbaud:
Cell: +55 12 9724-4929 Phone: +1 954 359 3414 sguilbaud@embraer.fr
Phone: +55 12 3927 1311 Cell: +1 954 232 9560 Phone: + 33 (0) 1 49 38 44 55
Fax: + 55 12 3927 2411 Fax: +1 954 359 4755 Cell. +33 (0) 6 75 22 85 19
Fax: + 33 (0) 1 49 38 44 56
Catherine Fracchia
cfracchia@embraer.fr
Phone: +33 (0) 1 49 38 45 30