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Safran announced on Jan. 19 that it has entered into an agreement with Embraer to sell its shares in EZAir.
EZAir is a 50/50 joint venture between Embraer and Safran that manufactures Embraer's interiors in Chihuahua, Mexico. With the sale, Embraer will completely own the Chihuahua location. The site employs approximately 1,100 people and is essential in manufacturing the company's cabin interiors. It will also take over the associated aftermarket activities and any engineering and manufacturing related to Embraer at Safran Cabin Brazil. Full ownership of EZAir will strengthen Embraer's control over its cabin interior development, manufacturing and aftermarket support and Safran will focus more on its core cabin activities and customer base, according to AviTrader.
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Any engineering services not related to Embraer at Safran Cabin Brazil. Safran stated that the transaction remains subject to the receipt of all applicable regulatory approvals and the customary conditions for this type of transaction. Both companies will continue to operate as a joint venture until those approvals are obtained.