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

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?”

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.

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

Jewelry, accessories store Fuego opens second site in Snohomish County

Northwest-based jewelry, accessories and gifts store Fuego opened a new outlet store… Continue reading

Extreme cleaning company Steri-Clean opens in Mukilteo

The first Washington franchise of the Steri-Clean company will celebrate its grand… Continue reading

Justices to hear government’s email dispute with Microsoft

A lower court ruled emails in a drug case couldn’t be searched because they were in Ireland.

Negotiators give up hope of rewriting NAFTA this year

A fourth round of negotiations between the U.S., Mexico and Canada ended in mutual exasperation.

Facebook acquires TBH, an anonymous teen compliment app

TBH, short for “to be honest,” prompts users to answer polls about people they know.

Most Read