Werner Aero has released that Sumitomo Corporation, through Sumitomo Corporation of Americas, has acquired 51% of the shares of Werner Aero, LLC headquartered in New Jersey, U.S.A. While demand in commercial aviation has taken a hit due to COVID-19, IATA estimates that revenue passenger-kilometres will recover to pre-pandemic levels in 2023 and growth will continue, driven by short- and medium-haul routes.
“This is an exciting opportunity for Werner Aero. This acquisition will position us to expand the business and grow our offerings to our customers. We are seeing that demand for spare parts and services growing rapidly. Our joined forces will benefit our customers by bringing more innovative and expanded solutions to them. This transaction will give us greater capacity for full-service aircraft management and support and just-in-time inventory” said Mike Cazaz, CEO of Werner Aero.
Sumitomo Corporation is a Japanese publicly traded diversified conglomerate that operates in various business sectors in Japan, the Americas, Europe, Asia and elsewhere throughout the world. Sumitomo has been ranked for the past 27 years as one of the global companies leading the world’s development in the Fortune Global 500, an annual list complied and published by U.S. Fortune magazine.
