Brazil's airplane manufacturer Embraer announced on Friday it will hire up to 4,000 new employees in 2007, as the company expects investment of 500 million U.S. dollars throughout the year.

According to the company's CEO Mauricio Botelho, the plan is to invest 2.6 billion U.S. dollars over the next five years, the same amount as the total investment made since its privatization started in 1994.

In 2006, Embraer surpassed its Canadian rival Bombardier in terms of revenue and the number of accomplished orders. The manufacturer expects to deliver 135 aircraft this year.

In 2007, it plans to produce 165 jets, instead of the 160 as previously estimated. In 2008, deliveries will reach up to 205 airplanes.

The company is also to welcome a new CEO, Frederico Curado, who is currently in charge of the commercial department. He stressed his first challenge will be keeping up with the rise in the production and integrating the new members of the staff.

Embraer now has about 19,000 employees and produces jets with a capacity of between 30 and 118 seats.

It owns plants in Brazil and China, and had considered opening a production unit in the United States, which was suspended, Botelho said.

Mexico has presented the company with more than one proposal for a production unit, as has the European Union, added the CEO.