The Japanese trading company Sumitomo Corp. and a subsidiary of Sumitomo Corp. of Americas have completed the acquisition of all shares in Werner Aero LLC, an American company engaged in the dismantling and sale of decommissioned aircraft and components. This is reported in a Sumitomo press release.
Sumitomo Corp. of Americas acquired a 51% stake in Werner Aero in 2022 amid favorable market conditions for the provision of maintenance and overhaul services. The full acquisition allows for closer cooperation between the companies of the Werner Aero Group and Sumitomo Corp. to strengthen the competitive advantages of Werner Aero.
As part of the deal, Werner Aero became a subsidiary of the American Sumitomo Corp. of Americas, strengthening its position as a key player in the aftermarket sector for narrow-body aircraft and regional jets, which are in high demand due to delays in aircraft deliveries caused by global labor shortages and supply chain disruptions.
The deal is in line with Sumitomo's strategy to increase revenue amid the growing demand for used aircraft components, driven by global challenges of aircraft restoration and supply chain.
Werner Aero is a partner of airlines and leasing companies. The company's comprehensive business model includes the purchase, dismantling, repair and maintenance of used aircraft. Unlike many companies specializing exclusively in the resale of spare parts, Werner Aero offers comprehensive solutions. Werner Aero operates a 2,500-square-meter aircraft parts warehouse in New Jersey.
Sumitomo Corp. of Americas is the largest subsidiary of Sumitomo Corp., an integrated trading company with a wide global network of 128 offices in 66 countries. Sumitomo Corp. It unites about 900 companies and 80,000 employees in the metallurgy, automotive, transport and construction systems, digital technologies, etc. The headquarters are located in Tokyo (Japan) and New York (USA).
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