Weekly Report - 14 June 2012 (WR-12-23)

MEXICO | Aerospace sector continues to attract investment. On 12 June Brazil’s highly successful aircraft manufacturer, Embraer, and France’s leading aerospace equipment manufacturer, Zodiac aerospace, announced that they would be embarking on a joint venture to build a new plant in Mexico. According to a joint statement the plant, the exact site of which has not yet been determined, will produce cabin components that are to be used by Embraer’s E-170/190 family of airplanes, the largest in its range. This will constitute the first investment that Embraer, the world’s third largest commercial aircraft manufacturer, will make in Mexico and the first in another Latin American country besides Brazil. The company currently has manufacturing plants outside Brazil in China, Portugal and the US. Embraer’s executive Vice-President, Artur Coutinho, has pointed out that Embraer has had a long and successful partnership with Zodiac, which already has a presence in Mexico, and that the plan was for the new plant to eventually manufacture “new products”. Meanwhile Zodiac deputy CEO, Maurice Pinault, said that he was pleased with the agreement and that it was a “new step in a successful cooperation”.

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