Avibras

Avibrás Indústria Aeroespacial S/A
Company typePrivate
IndustryDefense
Founded1961; 63 years ago (1961)
HeadquartersSão José dos Campos, Brazil
Area served
Latin American
Key people
João Brasil Carvalho Leite (President and CEO)
Products
Number of employees
800 (March 2024), 420 layoff[1][2]
Websitewww.avibras.com.br/site/en

Avibrás Indústria Aeroespacial, based in Jacareí, São José dos Campos, Brazil, is a diversified Brazilian company which designs, develops and manufactures defense products and services.[3] Its range of products encompasses artillery and aircraft defense systems, rockets and missiles such as air-to-ground and surface-to-surface weapon systems, including artillery rocket systems; 70 mm air-to-ground systems and fiber optic multi-purpose guided missiles. It makes armoured vehicles as well. It also manufactures civilian transportation through a division called Tectran, telecommunications equipment, electronic industrial equipment (Powertronics), automotive painting and explosives.

In April 2024, DefendTex, an Australian company, has proposed acquiring the company, which has a debt of more than R$ 600 million or around € 80 million, of which R$ 14.5 million is owed to workers.[4][5][6][7] In June 2024, the Australian Government decided not to support DafendTex financially in the acquisition of Avibras.[8] Norinco is also interested in Avibrás, with 49 % stake, if DefendTex could not raise US$ 70 millions from Australian Government Credit to its acquisition and transfer advanced missile manufacturing capability from Brazil to Australia.[9][10] Avibrás is supposed to be valued at US$ 200 million, laid off 420 employee, a third of its workforce in 2022, those who remained were not paid for more than a year. Its debt is estimated at R$ 570 million (US$ 104.5 million) in 2022 and had ballooned to R$ 700 million (US$ 128.480 million) in 2024.[11][12][13] Federal Deputy Guilherme Boulos presented on 18 July 2024 in the Chamber of Deputies a proposal Federal Government to expropriate the industry with R$ 2 billion, to own brazilian government continue development of ongoing and new projects.[14]

  1. ^ "Avibras demite cerca de 400 trabalhadores em Jacareí, diz sindicato". G1 (in Brazilian Portuguese). March 18, 2022. Retrieved March 19, 2022.
  2. ^ "Recuperação judicial da Avibras é homologada e luta por salário continua". February 22, 2024.
  3. ^ "Company Overview of Avibras Indústria Aeroespacial S.A." Bloomberg.com. Retrieved May 1, 2018.
  4. ^ Pligher, Pedro (April 2, 2024). "Australia's DefendTex in talks to buy Brazil's missile-maker Avibras". Defense News. Retrieved April 9, 2024.
  5. ^ "Avibras Indústria Aeroespacial S/A - Comunicado da Avibrás - 19/02/24". www.avibras.com.br. Retrieved April 9, 2024.
  6. ^ "Em recuperação judicial, Avibras anuncia investimento australiano | Radar". VEJA (in Brazilian Portuguese). Retrieved April 9, 2024.
  7. ^ "AVIBRÁS - Plano Recuperação Judicial homologado pela Justiça SP". DefesaNet (in Brazilian Portuguese). February 21, 2024. Retrieved April 9, 2024.
  8. ^ "Government won't give DefendTex US$ 70 million to help buy Brazilian missile manufacturer". Retrieved June 18, 2024.
  9. ^ "Norinco". July 3, 2024. Retrieved July 5, 2024.
  10. ^ "China is interested in buying Brazilian missile manufacturer". Retrieved June 18, 2024.
  11. ^ "Brazilian missile manufacturer negotiation". Retrieved July 8, 2024.
  12. ^ "Both Look To Win 'Troubled' Avibras Deal". June 20, 2024. Retrieved July 8, 2024.
  13. ^ "Chinese company Norinco eyes significant investment in Brazil's missile maker Avibras". MSN. Retrieved July 10, 2024.
  14. ^ "Boulos". July 18, 2024. Retrieved July 18, 2024.