is pulling out of a joint venture with formed in 2005 to take control of OGMA—Industria Aeronautica de Portugal S.A., an aerostructures, airframe and component maintenance, repair and overhaul organization once owned by the Portuguese government.
The venture, Airholdings, was created in 2005 by the two manufacturers to take a 65% holding in OGMA, with the Portuguese state retaining a 35% stake. Initially, Embraer owned a 99% share in the Airholdings joint venture, although EADS later exercised an option to increase its holding to 30%.
That 30% is now being sold to Embraer’s Defense and Security division for an undisclosed amount. Pending regulatory approval, the transaction could be completed in 30-90 days.
“This is an additional investment in Portugal, in order to strengthen the strategic partnership between Brazil and the European Union,” says Embraer Defense and Security President Luiz Carlos Aguiar.
OGMA, which is based in Alverca, Portugal, and is bothand Part 145 certified, provides line and heavy maintenance on family aircraft and Embraer ERJs and , as well as Embraer and business jets. The company has extensive military aircraft capability, ranging from , for which it is well-known, and Lockheed Martin to Europcopter SA330 Pumas. In December, Embraer awarded the company a contract to build and support central fuselage panels, elevators, fairings and landing-gear doors for its transporter that is scheduled for entry into service in 2015.