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Beechcraft to be bought by Cessna parent company

December 26, 2013 • Business


FILE – In this Monday, Feb. 18, 2013, file photo, aircraft are worked on on the assembly line at Beechcraft in Wichita, Kan. Textron Inc., the parent company of Cessna Aircraft, announced Thursday, Dec. 26, 2013, that it has reached an agreement to buy Beechcraft Corp. for approximately $1.4 billion. (AP Photo/The Wichita Eagle, Jaime Green) LOCAL TV OUT; MAGS OUT; LOCAL RADIO OUT; LOCAL INTERNET OUT

WICHITA, Kan. (AP) — Cessna Aircraft parent company Textron Inc. said Thursday it will buy Beechcraft Corp. for approximately $1.4 billion, a deal that would combine two mainstays of Wichita’s general aviation industry.

The announcement by Providence, R.I.-based Textron caps a year that saw Beechcraft emerge from bankruptcy largely freed from debt and its unprofitable Hawker business jet operations, which it Login to read more

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