Boeing rompe contrato de 4,2 bilhões de dólares com Embraer e sindicato pede reestatização da empresa

Boeing Breaks $4.2 Billion Contract With Embraer, Union Calls for Re-nationalization of the Company

Written by Flavia Marinho

Published on 27/04/2020 at 14:27

Boeing rompe contrato de 4,2 bilhões de dólares com Embraer e sindicato pede reestatização da empresa

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The partnership between Boeing and Brazilian manufacturer Embraer was canceled 21 months after it was announced. The two companies exchanged accusations after the American company released a statement saying it had pulled out of the deal valued at US$ 4.2 billion. Earlier this month, the company extended the suspension of employees at its factories in Brazil with collective vacations

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According to government sources, the coronavirus pandemic was the main cause for the end of the agreement between Boeing and Embraer.

The partnership between the companies would create a new enterprise in the commercial aviation sector — Boeing Brasil-Commercial —, in which Embraer would hold 20% and the Americans 80%.

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Today (27), Embraer announced in a statement that it has initiated arbitration procedures due to the contract termination by Boeing, since the Brazilian jet manufacturer met all contractual requirements.

“The company will seek all appropriate measures against Boeing for the damages suffered as a result of the wrongful cancellation and breach of contract”, wrote Embraer in a statement.

The Arbitration Chamber or arbitral tribunal is an alternative to resolving disputes without the need to resort to the judiciary. In practice, the interested parties appoint arbitrators, who weigh the arguments presented and issue a decision known as the “arbitral award”.

Earlier, President Jair Bolsonaro stated that Embraer could be negotiated with another company.

China, A Possible Partner for Embraer

Analysts at Swiss bank UBS, Myles Walton, Louis Raffeto, and Emilee Deutchman do not rule out that China could lead a Chinese company to seek an agreement with the Brazilian manufacturer.

“We believe that China still aspires to a position of global aerospace leadership and, in our opinion, the ERJ would be important as a product, in addition to bringing Embraer’s experience in a global service and support network.

Union Advocates Re-nationalization to Save Embraer

The Metalworkers’ Union of São José dos Campos requested on Saturday (25) the re-nationalization of the Brazilian company.

Additionally, the entity stated that the government should guarantee jobs for the company’s workers.

The union emphasized that it has always opposed the sale of Embraer, which, according to the entity, is “a strategic national asset for the country and does not need an alliance with international partners to survive”.

“We advocate that the Brazilian government fulfill its role in favor of our sovereignty and re-nationalize Embraer so that, in light of the collateral effects that will arise from the breakdown of the agreement, exacerbated by the economic consequences caused by the coronavirus pandemic, the jobs and rights of the workers are fully preserved”, says the union’s statement.

Boeing Breaks $4.2 Billion Contract With Embraer, Union Calls for Re-nationalization of the Company

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