Boeing-Embraer partnership receives shareholder approval
With participation of approximately 67% of outstanding shares, 96.8% of valid votes cast favored the transaction. The proposal establishes a joint venture of Embraer’s commercial aircraft and services operations, with Boeing holding 80% ownership in the new company and Embraer 20%.
Embraer shareholders also agreed to a separate joint venture to promote and develop new markets for the multi-mission medium-airlift KC-390 aircraft. Embraer will own 51% in the joint venture, with Boeing owning 49%.
Brazil’s government approved the joint ventures in January 2019.
Embraer’s defense and executive jet business and services operations will remain a standalone, publicly-traded company. Support agreements focused on supply chain, engineering, and facilities will ensure mutual benefits and enhanced competitiveness between Boeing, the joint venture, and Embraer.
The transaction is subject to regulatory approvals and other customary conditions, which Boeing and Embraer hope to achieve by the end of 2019.
Embraer will continue to operate the commercial aviation business and the KC-390 program independently until the transaction closes.
Jergens Inc. appoints Matt Schron as GM
Matt Schron will succeed Bob Rubenstahl as the next general manager (GM) of Jergens Inc. Schron will be responsible for Jergens’ workholding, lifting, and specialty fasteners businesses.
Since 2007, Schron has been the GM for Jergens Industrial Supply (JIS), the company’s dedicated, large-scale technical distributor of metalworking products that represents more than 300 manufacturers in the United States. In his 18-year career at Jergens, Schron worked in three of the four Jergens divisions, in marketing, product management, and sales.
Rubenstahl is retiring after seven years directing the workholding, lifting, and specialty fasteners groups. His retirement caps more than 35 years of experience in international and domestic manufacturing and distribution environments.
Aerodyn Engineering appoints Robb Hudson president, CEO
Robb Hudson has been named president and CEO of Aerodyn Engineering Inc., Indianapolis, Indiana.
The company’s executive chairman, David Lawrence, says Hudson’s “professional and interpersonal skills, along with his practical knowledge of the complex parts manufacturing business, match the leadership qualities we need to support and achieve our growth objectives.”Before joining Aerodyn, Hudson was CEO of precision machine tool builder Mitsui Seiki USA Inc.
Established in 2002, Aerodyn Engineering employs about 130 people in Indianapolis and Whitestown, Indiana; Montreal, Canada; and Derby, United Kingdom.
QA manager joins Forest City Gear
Roscoe, Illinois- based Forest City Gear has hired Bob McClain as quality assurance (QA) manager to oversee the activities of the company’s quality lab and manage its company-wide quality systems for aerospace, medical, and other precision gearing applications.