Safran announces that it has entered into a definitive agreement with Embraer for the sale of Safran Cabin’s shares in EZAir, their 50/50 joint venture that manufactures Embraer’s interiors in Chihuahua, Mexico, along with associated aftermarket activities, as well as responsibility for related activities (engineering and manufacturing) in Brazil.
The Chihuahua location, which employs about 1,100 people, will then be wholly owned by Embraer. The activities of Safran Cabin Brazil related to Embraer scopes will become part of Embraer. The non-Embraer related engineering services activities of Safran Cabin Brazil will remain with Safran.
The transaction is subject to obtainig the applicable regulatory approvals and the customary conditions for this type of transaction.
