Cessna parent company to buy Beechcraft

WICHITA, Kan. — The parent company of Cessna Aircraft says it has reached an agreement to buy Beechcraft Corp. for approximately $1.4 billion.

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 in Herald Business Journal

More business, more competition for Everett kidney dialysis center

Nonprofit Puget Sound Kidney Centers sees large for-profit competitors enter state market.

Suitors, beware: In Seattle, Amazon also brought disruption

The company has grown there from a workforce of about 5,000 to more than 40,000 in 33 buildings.

How the Airbus-Bombardier alliance could squeeze Boeing

“It makes Boeing look like they’ve been playing tic tac toe against a chess master,” says an analyst.

Boeing could help launch orbiting space station for the moon

“We should have a lunar base by now. What the hell has been going on?”

City of Marysville adds HR director

The City of Marysville has hired Bill Kolden as its new human… Continue reading

Economic Alliance to host After Hours event at Clothes for Kids

The next Economic Alliance Snohomish County Business After Hours event is from… Continue reading

Speed Networking planned by Lynnwood Chamber

The next Good Morning, Lynnwood Chamber Speed Networking is from 7:30 to… Continue reading

More self-awareness could help build a better medical system

Marcy Shimada of Edmonds Family Medicine writes the second in a series about fixing our health care system.

Scratch-and-sniff brochures aimed to prevent disaster

Puget Sound Energy has distributed more than a million scratch-and-sniff brochures to… Continue reading

Most Read