Sumitomo Corporation of Americas completes full acquisition of Werner Aero LLC to boost business growth after aircraft sale Investing.com

NEW YORK, January 10, 2025 /PRNewswire/ — Sumitomo Corporation and Sumitomo Corporation of America (together “Sumitomo”) have announced a complete acquisition Werner Aero LLCleading OURa company with headquarters specializing in the procurement, disassembly and sale of decommissioned aircraft and their components. Efficient December 27, 2024Werner Aero became a wholly owned subsidiary of Sumitomo Corporation of Americaconsolidating its position as a key player in the aircraft aftermarket sector. This strategic move reflects Sumitomo’s commitment to capitalize on growing demand for used aircraft parts driven by the global aviation recovery and supply chain challenges.

With more than 30 years of expertise, Werner Aero has established itself as a trusted partner to airlines and leasing companies worldwide. The company’s overall business model includes the acquisition of used aircraft, disassembly and parts extraction, repair and maintenance, inventory management, and parts sales. Unlike many companies that focus solely on reselling parts, Werner Aero provides end-to-end solutions, delivering unmatched value to its customers.

“Werner’s strong network and operational expertise have positioned it as a leader in the narrow-body and high-demand regional jet markets,” he said. Toshinori Kondowho assumed the role of Chief Executive Officer January 1, 2025succeeding founder Mike Cazaz. “This acquisition allows us to build on Werner’s strengths and accelerate our growth in the aircraft aftermarket industry.”

Sumitomo Corporation of America initially acquired a 51% stake in Werner Aero in 2022, and the full acquisition marks the next step in its long-term strategy. The decision was made due to favorable market conditions for maintenance, repair and overhaul (MRO) services. The aerospace industry is seeing increased demand for used parts due to delayed aircraft deliveries caused by global labor shortages and supply chain disruptions. By leveraging the financial resources of SC and SCOA, the global airline network and group synergies, Werner Aero has significantly expanded its procurement channels and operational capabilities.

The full acquisition enables closer cooperation between Werner Aero and Sumitomo Corporation groups of companies. Improved global coordination will further strengthen Werner Aero’s competitive advantage. This approach is in accordance with Sumitomo Corporation broader goals to increase profitability and achieve sustainable growth in the aviation sector.

About Sumitomo Corporation of America

Sumitomo Corporation of America is the largest branch of the company Sumitomo Corporationintegrated trading company with a strong global network consisting of 128 offices in 66 countries and regions. Sumitomo Corporation Group consists of approximately 900 companies and nearly 80,000 employees on a consolidated basis. The Group’s business activities are spread over the following nine groups: steel, automotive industry, transport and construction systems, Various urban developmentmedia and digital business, lifestyle business, mineral resources, energy transformation solutions and business. Sumitomo Corporation is committed to creating greater value for society under the corporate message of “Enriching Life and the World”, based on the Sumitomo business philosophy that has been passed down for more than 400 years. For more information, please see our website at www.sumitomocorp.com.

About Werner Aero

Founded in 1993, Werner Aero specializes in aircraft lifecycle solutions, including asset management, maintenance and dismantling services. The company serves as a trusted partner to airlines, MROs and leasing companies, offering flexible and innovative solutions that increase operational efficiency. Werner Aero operates a 2,500 square meter warehouse in New Jerseystocked with thousands of aircraft parts for its clients’ needs.