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

Health-care consumers need to take the lead, so get smart

David Russian, CEO of Western Washington Medical Group, writes our third essay about fixing health care.

Robots on Wall Street: Slow-footed regulators lose ground

Watchdogs have to figure out how to check computers running lightening-fast algorithms.

More business, more competition for Everett kidney dialysis center

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

Molina Medical holds fall carnival for families in Everett

Molina Medical is hosting a free event for families in the Everett… Continue reading

Leadership Snohomish County celebrates 20 years of service

Leadership Snohomish County is celebrating its 20th anniversary. The organization was launched… Continue reading

Snohomish, Monroe manufacturers honored for innovation, excellence

Two Snohomish County companies have been honored with Manufacturing Excellence awards at… Continue reading

Remodeled home tours planned this weekend

This weekend, Edmonds-based Chermak Construction will participate in the 2017 Remodeled Homes… Continue reading

Barron Heating to celebrate anniversary at Marysville showroom

Barron Heating and Air Conditioning is celebrating its 45th anniversary from 10… Continue reading

US budget deficit hits $666B, an $80B spike for the year

The deficit issue has largely fallen in prominence in Washington in recent years.

Most Read