Safran has announced that it has reached a definitive agreement with Embraer to sell its shareholding in their joint venture, EZAir. The transaction will be completed once regulatory approvals have been obtained.
EZAir, based in Chihuahua, Mexico, manufactures aircraft interiors for Embraer. The company is currently owned equally by Safran Cabin and the Brazilian aircraft manufacturer, and employs approximately 1,100 people.
Safran noted that the sale also includes related aftermarket service activities, as well as responsibility for the engineering and production operations located in Brazil. As part of the transaction, the activities of Safran Cabin Brazil related to Embraer programs will be integrated into the airframer, while its non‑Embraer activities will remain within the Safran Group.
Safran has been pursuing a strategy of focusing on its core businesses for several years and had previously indicated that it was considering divesting part of its Cabin division.