Embraer ON (BOV:EMBR3)
Historical Stock Chart
1 Month : From Feb 2020 to Mar 2020
Brazilian plane maker Embraer SA said it has been developing a range of medical equipment parts to help the treatment of Covid-19 victims in Brazil, with the Boeing Co. partner planning to start production next week.
The move comes as the Pentagon is marshalling U.S. defense contractors to support the U.S. relief effort, though it has yet to identify any company-specific work being undertaken.
Embraer said it is working with its supply chain and other partners to make parts for ventilators and respirators, and develop filtration systems to support intensive-care units.
Boeing plans to pay more than $4 billion for an 80% stake in Embraer's commercial jetliner business and a joint venture in its military arm, a deal driven in part by securing access to the Brazilian company's engineering talent. The deal was due to close by the end of 2019, but has been held up by competition regulators.
(END) Dow Jones Newswires
March 25, 2020 19:00 ET (23:00 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.