Sumitomo Corporation of Americas Completes Full Acquisition of Werner Aero LLC to Drive Growth in Aircraft Aftermarket Business

NEW YORK, Jan. 10, 2025 /PRNewswire/ -- Sumitomo Corporation and Sumitomo Corporation of Americas (together "Sumitomo") have announced the full acquisition of Werner Aero LLC, a leading U.S.-based company specializing in the procurement, dismantling, and sale of retired aircraft and their components. Effective December 27, 2024, Werner Aero became a wholly owned subsidiary of Sumitomo Corporation of Americas, solidifying its position as a key player in the aircraft aftermarket sector. This strategic move reflects Sumitomo's commitment to capitalizing on the growing demand for used aircraft parts driven by 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 comprehensive business model includes the procurement of used aircraft, dismantling and extracting parts, repair and maintenance, inventory management, and parts sales. Unlike many of the companies that focus solely on parts resale, 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 high-demand narrow-body aircraft and regional jet market," said Toshinori Kondo, who assumed the role of CEO on January 1, 2025, succeeding 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 Americas 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 driven by the favorable market conditions for maintenance, repair, and overhaul (MRO) services. The aviation industry is experiencing increased demand for used parts due to delayed aircraft deliveries caused by global labor shortages and supply chain disruptions. By leveraging SC and SCOA's financial resources, global airline network, and group synergies, Werner Aero has significantly expanded its procurement channels and operational capabilities.

The full acquisition enables closer collaboration between Werner Aero and Sumitomo Corporation's group companies. Enhanced global coordination will further strengthen Werner Aero's competitive advantage. This approach aligns with Sumitomo Corporation's broader goals to drive profitability and achieve sustained growth in the aviation sector.

About Sumitomo Corporation of Americas

Sumitomo Corporation of Americas is the largest subsidiary of Sumitomo Corporation, an integrated trading company with a strong global network comprising 128 offices in 66 countries and regions. The Sumitomo Corporation Group consists of approximately 900 companies and nearly 80,000 employees on a consolidated basis. The Group's business activities are spread across the following nine groups: Steel, Automotive, Transportation & Construction Systems, Diverse Urban Development, Media & Digital, Lifestyle Business, Mineral Resources, Chemicals Solutions and Energy Transformation Business. Sumitomo Corporation is committed to creating greater value for society under the corporate message of "Enriching lives and the world," based on Sumitomo's business philosophy passed down for over 400 years. For more information, please refer to our website at www.sumitomocorp.com.

About Werner Aero

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

SOURCE Sumitomo Corporation of Americas