Feb 6, 2014

• The project is aligned with the Bank’s priorities and includes social investments in the cities of Botucatu and São José dos Campos

The Brazilian Development Bank (BNDES) approved financing to the tune of R$ 1.4 billion for investments in technological innovation that Embraer is planning to carry out.

The project includes developing a midsize Legacy 500 business jet and the second generation of the E -Jets (commercial jets), besides investments that will benefit the community.

The BNDES’ support to the company will be made possible via a set of financing lines within the scope of the Investment Maintenance Program (BNDES PSI), which is aimed at acquisition of capital goods and innovation. Other resources are coming from the BNDES’ Pro-engineering line, to  develop local engineering, as well as from the Social Investment Line for Companies (ISE).

The project, which will be developed predominantly in an industrial plant in São José dos Campos (SP), is in keeping with the BNDES’ priorities to encourage investment in innovation aimed at improving productivity and increasing the competitiveness of Brazilian companies in the domestic and international markets.

With high technological density, this project will bring benefits related to reductions in fuel consumption, exhaust emissions, noise levels and maintenance costs of aircraft manufactured by the company.

Embraer estimates that more than 1,800 employees will be involved in the project until 2018, including professionals from the engineering specialization program (PEE), the company's partnership with the Institute of Technological Aeronautics (ITA).

Social – The social investments within the scope of the project will focus mainly on education. The Embraer Casimiro Montenegro Filho School, in the city of Botucatu (SP) — where Embraer’s manufacturing plant is located — will be expanded upon completion of infrastructure works, creating 240 new vacancies in the high school. Also included are investments to reform the Embraer Juarez Wanderley School, in the city of São José dos Campos (SP).