Brazilian plane maker Embraer (ERJ.NYSE, EMBR3.BVMF) signed a deal on Thursday to sell 60 regional airplanes to Chinese companies at a total price of US$3.2 billion, The Wall Street Journal reported. The contracts include 20 models E-190 and 20 E-190E-2 for Tianjin Airlines, a unit of Hainan Airlines (900945.SHA), as well as an order for 20 E-190 planes for Industrial and Commercial Bank of China (1398.HKG). The agreement marks a major advance in Embraer’s China business, a market it has been cultivating for years. Brazil has sought to sell more value-added products to China in a bid to revive growth which has slumped amid a manufacturing slowdown.
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