Synergy Group

Synergy Group Corp.
Company typeCorporation
IndustryConglomerate
Founded2003
HeadquartersSão Paulo, Brazil
Key people
ProductsAirline industry, aerospace, Oil & Gas, shipyard
RevenueIncrease US$ 10.0 billion (2011)
Number of employees
40,000 (2013)
Subsidiaries
  • AEQ Aeroespacial
  • Digex Aircraft Maintenance
  • EAE Aerospace Solutions
  • EISA Shipping Agency
  • REM
  • Senior Taxi Aéreo
  • Synergy Aerospace
  • Synergy Europe
  • Synerjet Brasil
Websitewww.synergygroupcorp.com

Synergy Group Corp. is a South American conglomerate created and owned by Germán Efromovich. The group is headquartered in Rio de Janeiro, Brazil.[1] It operates several airlines in South America, among which are Avianca Group (formerly Avianca Holdings & AviancaTaca Holding), with a 66.66% stake,[2] and is active in the exploration of oil and natural gas throughout the region. Additionally, it operates hydroelectric power plants, participates in the construction of telecommunications infrastructure, shipbuilding and technical inspections, radiochemistry, radiopharmaceuticals, agriculture and hospitality.[3]

Synergy Group had integrated the airlines and companies of TACA Airlines with Avianca under a holding company, Avianca Holdings. The Synergy Group owns 66.66% of the newly created subsidiary company. Kingsland Holding (El Salvador)[4] owns the other 33.33% of Avianca-TACA.[5][6]

Synergy Aerospace Corp. a sub-division of Synergy Group, is headquartered in Bogota, Colombia.[7] It is the major shareholder of Avianca Holdings. The company controls eight airlines in four countries: Avianca and Tampa Cargo in Colombia, Avianca Brasil, VarigLog and Synerjet in Brazil, VIP and AeroGal in Ecuador and Grupo TACA in El Salvador.[6] In November 2012, Synergy Aerospace Corp. established Synergy Aerospace Europe.

Synergy Aerospace established a joint venture in March 2011, with Israel Aerospace Industries.[8] Brazil-based company EAE Aerospace Solutions was established to become the shareholder and holding company of the group’s activities in Brazil. Synergy wants to invest in Flight Technologies,[9] a manufacturer of tactical UAVs for the Brazilian Army, based in São José dos Campos.[10] The joint venture will offer advanced defense systems, such as unmanned aerial vehicles, Multi Mission Transporters, mission and fighter aircraft upgrades, intelligence surveillance and reconnaissance advanced systems and radars.

The Synergy Group also has relevant activities, including the control of the EISA Shipping Agency,[11] currently building a 500-ton patrol ship for the Brazilian Navy, and the Brazilian Digex company, operating in aircraft maintenance area.[12]

Synergy Aerospace was a candidate in the acquisition of Portuguese state carrier TAP Portugal. In November 2012, Synergy Group created Synergy Europe based in Luxembourg, to deal with the possible takeover of the Portuguese airline. All European activities would be handled by its European subsidiary.[13] Through this unit, the company was planning to partner with European investors, including Portuguese airline EuroAtlantic Airways.[14] In June 2015, Synergy lost the bid to the Gateway consortium, that includes Portuguese bus owner Humberto Pedrosa and Brazilian David Neeleman (Azul Brazilian Airlines).[15]

  1. ^ Official Website Archived July 12, 2012, at the Wayback Machine (temporarily not available)
  2. ^ Synergy Group signs up for US$ 630m deal with Rolls-Royce The Manufacturer Online, 13 July 2012
  3. ^ "Efromovich: Hardworking Visionary | Latin Trade Group". Latintrade.com. 2011-05-25. Archived from the original on 2013-09-27. Retrieved 2013-06-29.
  4. ^ "Avianca-Taca Venture Builds Biggest Latin Air Network (Update1)". Bloomberg. 2009-10-07.
  5. ^ AviancaTaca and Tampa Cargo Owner Synergy Orders Six A330-200s, Three A330-200Fs airlinesanddestinations.com, 12 July 2012
  6. ^ a b "Synergy Aerospace firms up order for nine Airbus A330 Family aircraft | Airbus Press release". Archived from the original on 2014-12-22. Retrieved 2012-09-24.
  7. ^ "News - Media Centre". Bombardier. Retrieved 2013-06-29.
  8. ^ IAI, Synergy Group Embark on Expansion Plan in Brazil Defense update, 14 April 2011
  9. ^ Flight Technologies
  10. ^ Flight Technologies - Inteligência, Comando e Controle [https://web.archive.org/web/20130821142246/http://www.flighttech.com.br/template.php?pagina=localizacao.php Archived August 21, 2013, at the Wayback Machine
  11. ^ Eisa shipyard works will begin this year Archived July 19, 2013, at the Wayback Machine TOS International Martitima, 28 March 2012
  12. ^ Israeli Aerospace expands in Brazil UPI, 15 April 2011
  13. ^ Young, Kathryn M. (2012-10-19). "Portugal selects Synergy Aerospace for TAP privatization | News content from". ATWOnline. Retrieved 2013-06-29.
  14. ^ [1] [dead link‍]
  15. ^ Euronews - 11/06/2015