Joint Venture Embraer e Boeing: uma visão sistêmica unificada

Abstract

This monography addresses the merger between the manufacturers Embraer and Boeing, as a result of a strategy aimed to galvanize their portfolios of products and complementary services in the market of the production of civil and military aircrafts. This study has the objective of comprehending the factors that motivated the Brazilian company Embraer to negotiate a joint venture deal with Boeing for the creation of two new companies, where the american company would have a majority participation. The methodology adopted was based on bibliographic and documental research, with texts about connectivity and complex systems theory as primary sources, complemented by data found in reports, hearings, presentations, and technical opinions. The research study field was focused on the Company Embraer; and due to the drastic changes that occurred in the global economic context during the first two quarters of 2020, the results were limited to the negotiations between Embraer and Boeing until the Master Transaction Agreement signature on January 24, 2019. This work has also not included the impacts of these understandings in the large size commercial aircrafts market, above 150 seats. The research starts with the history of the company Embraer, highlighting the prominence of the Brazilian Air Force in its creation, and the importance of its privatization process. Henceforth, it explores the characteristics of the aeronautical market, specifically the single-aisle commercial aircrafts, up to 150 seats, and the KC-390 Millennium aircraft. Last, it analyses the specificities of the joint venture in question, which had the aim of creating two interdependent operations – the first for the creation of a new company (JV Aviação Comercial), to be founded in Brazilian territory, in which the American Boeing subsidiary with headquarters in Brazil would compose 80% of its social capital, and Embraer the other 20%; and the second operation for the creation of a new company (JV KC-390) to be started in Brazilian territory, in which Embraer would have 51% of the social capital, and Boeing the other 49%. The conclusion highlights the importance of the process of privatization of Embraer for the origin of a new structure that will be critical to underlie the company as one of the big players in the aircraft manufacturing market, and identifies the reasons for the factors that motivated the diligences leading to the act of joint venture.