The purchase was announced Thursday night by Providence, R.I.-based Textron Inc., and would bring two mainstays of Wichita's general aviation industry under a single corporate leadership.
Textron chairman and CEO Scott Donnelly said the Beechcraft acquisition is a "tremendous opportunity" for the diversified corporation to expand its general aviation business.
Beechcraft CEO Bill Boisture had said in recent months he expected the company would sell at least its idled business jet assets by the end of 2013.
Donnelly said Beechcraft's King Air line of aircraft complements Cessna's Caravan and Citation jet lineup.
MORE HBJ HEADLINES
Everett attorney helps businesses navigate immigration issues Briefs: Marketing Solutions president named finalist for teaching award Don’t make these Social Security mistakes VW chief “sorry” after EPA says firm skirted clean air law South Korea-backed app puts children at risk U.S. household wealth hits new high of $85.7 trillion
Our new comment system is not supported in IE 7. Please upgrade your browser here.