Brazil's Embraer SA agreed to sell 60 E-190 commercial passenger jets to China as part of a raft of deals signed by the presidents of the two countries to deepen commercial ties, the Brazilian government said on Thursday.Embraer will sell 40 planes to China's Tianjin Airlines , half of which will be the re-engined model known as E-190 E2, entering service in 2018. The Industrial and Commercial Bank of China Ltd will purchase 20 aircraft, following an accord in 2012 to provide leasing for Embraer planes.In agreements signed after a meeting on Thursday between presidents Xi Jinping and Dilma Rousseff, the two BRICS partners agreed to join forces in developing railways projects that will help Brazil get its export commodities to ChinaChina's Eximbank extended a $5 billion credit line to Vale to buy or lease ships and shipping equipment from Chinese companies, but there was no mention of a solution to an impasse over China's refusal to allow giant, bulk iron ore carriers used by Vale SA to dock at Chinese ports.
Embraer SA is a Brazil-based holding company primarily engaged in the manufacture of aircrafts. Shares of ERJ traded higher by 1.36% or $0.52/share to $38.76. In the past year, the shares have traded as low as $28.31 and as high as $40.37. On average, 939881 shares of ERJ exchange hands on a given day and today's volume is recorded at 482956.
Vale SA (Vale) is a Brazil-based metals and mining company. Shares of VALE fell by 2.08% or $-0.3/share to $14.10. In the past year, the shares have traded as low as $12.29 and as high as $17.14. On average, 17082700 shares of VALE exchange hands on a given day and today's volume is recorded at 4342814.
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