Wichita-Kan.-based Beechcraft makes business, special mission, light attack and trainer aircraft. Textron, of Providence, R.I., said the $1.4 billion acquisition will complement its Cessna small-aircraft business and produce "synergies" in operations and marketing. Textron also owns Bell Helicopter.
“The acquisition of Beechcraft is a tremendous opportunity to extend our general aviation business,” said Textron Chairman and CEO Scott Donnelly. “From our customers’ perspective, this creates a broader selection of aircraft and a larger service footprint.”
Beechcraft, whose products range from the King Air 350i business aircraft to the T-6 military trainer, has struggled financially and emerged from bankruptcy in February. Beechcraft CEO Bill Boisture said Textron’s “willingness to invest” in the 81-year-old Beechcraft in “a highly competitive environment” will “help us continue to satisfy our customers and meet our business objectives at a faster pace.”
The deal is expected to close in the first half of 2014 if approved by regulators.
SUBSCRIBE! To receive future articles by this writer, click “Subscribe” above. Follow him on Twitter.