On the same day that Ogma – Indústria Aeronáutica de Portugal celebrates 10 years of the privatization of the majority of its capital, the Deputy Prime Minister Paulo Portas was keen to highlight the success of the decision to sell 65% stake to Brazilian Embraer, which brought other management and the ability to model the investments that Ogma needed. Gates announced on Monday that the Brazilian group is preparing to make another “great” and “decisive” investment in Portugal.
The minister referred to the possibility of installation in Évora a third production unit of Embraer, for the manufacture of the new jet E2. The Brazilian group will apply the project to Community funds in the Portugal 2020 and Embraer’s CEO has said he expects an approval of this application a maximum horizon of one year.
Paulo Portas, who also visit this Monday Evora factories Embraer, went further and gave the investment is almost certain. Also in Alverca, announced that “inadvertently betray any commercial secret,” Embraer “is preparing to invest more in Portugal”, a project that considered very important “point of view of jobs, exports and above , the ability to manufacture and build. “
Gates visited Ogma on the day the company celebrated the 10th anniversary of the privatization of the majority of its capital (the Portuguese state still holds 35% of capital). The minister recalled that in 2004, was confronted, as minister of defense, the information that the company had no means to pay salaries in the coming months. Then opted for restructuring and privatization of capital that allowed the Ogma “take the globalization of the flight.” The deputy prime minister also said that decision to select Embraer was the right one, because Ogma has been the “pillar” of the integration of this company in the European market and the Alverca company had been sold to a European Group would, today, much less importance.
Then, Paulo Portas emphasized that Ogma, 10 years ago, had a turnover of 117 million euros and is now close to 170 million. “For 10 years, the Ogma exported 77 million and now exports twice, more than 150 million. Today is the product of tens of millions of euros of investment. If it had been the Portuguese state to be called to invest there would always be a good reason or connected to a financial crisis for the state could not invest. This company would have collapsed and would have been inconceivable that a company like this sinking “, he said.
Have Rodrigo Rosa, chairman of the board of directors Ogma, noted that” the bet made by Embraer in Portugal paid penalty “and that this link has brought benefits to both sides of the Atlantic. That’s right Frederico Curado added, CEO of Embraer, stressing that the decision to acquire a majority stake of Ogma allowed Embraer spend a large Brazilian manufacturer for a major world player in the aeronautical sector based in Brazil.
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