Brazilian aircraft maker to buy U.S. company
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Posted 5:54PM on Monday 7th January 2002 ( 23 years ago )
SAO PAULO, Brazil - Brazilian aircraft maker Embraer plans to buy U.S. airplane maintenance company Celsius Aerotech Inc. <br>
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Celsius, based in Nashville, Tenn., is part of Reliance Aerotech Inc. The company has 200 employees and is a major supplier of servicer to regional airlines. <br>
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Terms were not released for the deal, announced late Friday. <br>
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Embraer chief executive Mauricio Botelho said in a statement the deal would allow the company to attend U.S. clients better and "be part of a total solution to serve the commercial and corporate aviation markets." <br>
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Embraer is a world leader in the regional jet market and the fourth-largest airplane maker, with current firm orders worth $10.6 billion and options worth $12.1 billion. <br>
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